Fremont County accepts 2024 financial statements; auditor issues clean opinion

Fremont County commissioners on Wednesday voted to accept the county's 2024 financial statements and management letter after a presentation by Logan and Associates.

Kyle Logan, owner of Logan and Associates, told the board the audit produced an unmodified (clean) opinion for the year ended Dec. 31, 2024, meaning the financial statements are "fairly stated and materially correct." He highlighted roughly $98.6 million in total assets (an increase of about $8.4 million from 2023), $43.8 million in cash and investments and a $61.6 million net position (up about $8.8 million). Logan said unrestricted funds equate to about six months of operating expenses based on 2024 spending.

Logan also reported the county spent about $12.3 million in federal funds during 2024 (including coronavirus-related money drawn down in 2024), which required single-audit procedures. The audit team tested four federal programs and reported one carryover finding tied to late filing on the federal audit reporting clearinghouse; other previously noted issues had been resolved.

Commissioners praised finance staff for recovering records after a previous cyberattack and for achieving the current financial position. After brief discussion, a commissioner moved to accept the financial statements and management letter; roll call showed a unanimous vote in favor.

The vote: The board approved the audit acceptance on roll call. The management letter included a small number of audit adjustments and recommended best-practice improvements, particularly in IT and some fund footnotes; none affected the auditor's opinion.

Next steps: Staff will follow audit recommendations as appropriate and address the single-audit reporting timing issue noted as a carryover finding.