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Audit committee asks incoming auditor to re-examine airport fund accounting after internal review
Summary
The committee reviewed an EFG internal audit of airport accounts for 2019–2024 that concluded airport revenues were spent on airport activities, while the clerk auditor identified a separate discrepancy. Members directed the new internal auditor to reopen the review and seek reconciliations across multiple funds.
The Grand County Internal Audit Committee met June 4 and reviewed an internal audit by EFG of airport-related accounts dating from 2019 to 2024, then directed the incoming internal auditor to perform a more detailed follow-up review.
The EFG report, read into the record by a committee member, concluded that "it appears from this review that all airport revenues, including grants, were spent on airport activities." The presentation summarized EFG's methodology as a comparison of total revenues and expenditures; over the review period, expenditures were…
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