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Independent audit gives Lancaster County an unmodified opinion while flagging accounting restatement
Summary
Robinson Farmer Cox presented an unmodified FY2025 audit opinion, noted a restatement tied to new accounting for compensated absences and reviewed fund-balance and debt figures, emphasizing $76.6 million in school-related long-term debt and no federal-findings.
Robinson Farmer Cox partner Jay presented Lancaster County's fiscal-year 2025 audit to the Board of Supervisors on Jan. 29, delivering an unmodified opinion and outlining a restatement required by a recent government-accounting standard change.
"We're giving the county what's called an unmodified opinion, which means these financial statements are materially correct," Jay said. He told the board the restatement reflects a new standard for accounting for compensated absences and that the restatement adjusts beginning balances to align with the new GASB approach.
Key audit takeaways
- Unmodified audit…
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