Board accepts FY25 external audit; auditors issue clean opinion, note $6.1M capital adjustment

Auditors from Malden & Jenkins presented Buncombe County’s FY25 external audit at the Jan. 6 meeting and issued an unmodified, or "clean," opinion on the county’s financial statements.

Tim Lyons, the engagement partner, told commissioners that the audit included required reporting under government auditing standards and the single-audit reports for federal and major state programs. He said auditors identified a yellow-book finding tied to a material audit adjustment of roughly $6.1 million to remove capital assets that had been incorrectly reported on the county’s books but which Lyons said belong to the two school districts; the amounts relate to a large solar-panel project and were identified by county staff during the audit process.

Lyons said the auditors issued clean opinions on compliance for federal and state programs (including the mandatory Medicaid cluster) but recorded one testing-related finding tied to payroll day sheets that county staff had already addressed. He also reviewed fund-balance metrics and noted Buncombe County’s unassigned general fund balance increased to about 17% as of June 30, 2025.

Commissioners thanked finance staff and the audit committee. A motion to accept the audit was made and carried by the board.