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County auditors issue clean FY‑24 opinion; prior‑year corrections noted
Summary
CliftonLarsonAllen presented an unmodified (clean) opinion on Carroll County’s FY‑24 financial statements but reported prior‑year error corrections and two uncorrected misstatements; auditors flagged actuarial estimates and alternative investments for ongoing review.
CliftonLarsonAllen issued an unmodified (clean) opinion on Carroll County’s fiscal year 2024 financial statements, the county’s external auditor said at the Board of County Commissioners’ open session. "We issued an unmodified audit opinion this year," principal Sherry Amos told commissioners, adding the opinion means the statements are free of material misstatement.
The audit briefing highlighted several routine audit topics and a small number of adjustments. Amos said auditors reviewed actuarial estimates for pension liabilities, other post‑employment benefits and incurred but not reported insurance claims, and tested alternative investments that are harder to value because fund manager data is often dated. Auditors reported two corrected misstatements (an invoice coded to the wrong fiscal year and prepaid leases) and two uncorrected misstatements carried from prior years, including lease recognition and a property‑tax revenue item. "We did have a material weakness related to the prior‑year error corrections because of the magnitude of the dollar amount," Amos said.
County staff described the items as technical accounting corrections: the airport fund had multi‑year expenditures reclassified for capitalization tied to a runway expansion, and the grants fund had about $200,000 of adjustments related to new guidance on subscription‑based technology. Amos said auditors do not treat the remaining uncorrected items as material to the financial statements and stressed that management prepares the statements while the auditors test them.
Auditors also noted a required implementation of GASB Statement 100 (accounting changes and error corrections) and recommended management improvements in IT user‑access controls after identifying a few terminated users with lingering permissions.
The presentation was informational only; no board action was required. Commissioners thanked staff and auditors and noted the clean opinion helps preserve the county’s credit standing and support for bond and grant requirements.
