Baker County board accepts FY 2023–24 audit; single OPEB qualification noted
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Summary
James Moore & Company presented Baker County’s fiscal year 2023–24 audit, which included a common, single qualification tied to OPEB valuation; auditors reported improving audit comments, healthy reserves and three internal‑control observations; the board approved the audit.
Baker County commissioners on Tuesday accepted the fiscal year 2023–24 audit presented by James Moore & Company. Zach Shallow, a partner with the firm, told the board the audit opinion mirrored prior years, with a single qualification related to an actuarial valuation for other post‑employment benefits (OPEB).
The audit covered the year ended Sept. 30, 2024. Shallow said the county’s total fund balance rose by “a couple million dollars” from the prior year and that unassigned and assigned reserves amount to roughly seven and a half to eight months of operating expenditures — well above the Government Finance Officers Association’s recommendation of at least two months.
Shallow said the OPEB qualification is common among smaller governments and described the figure as theoretical for reporting purposes that “does not impact your general fund.” He also told the board a separate single‑audit threshold for federal major programs fell below the federal threshold this year, so the county had only a state single audit and no federal findings on major programs.
On internal control and compliance items, the auditors reported three comments tied to year‑end close timeliness, bank reconciliation adjustments and budget tie‑outs; Shallow said those issues were carryovers from prior years but are being actively addressed with assistance from the finance office and an outside firm, CKH.
Commissioners asked about the remaining audit comments and whether the county could eliminate the OPEB qualification by paying for an actuarial study. Shallow said those studies typically cost a few thousand dollars and provide a single valuation and additional disclosures, but he advised the county to weigh the cost‑benefit given the qualification does not affect the county’s budget.
After discussion, the board approved the audit as presented by motion and voice vote.
What’s next: staff and the finance office will continue to work on the outstanding internal control items noted in the audit and will provide updates to the board at future meetings.
