Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Luna County receives unmodified FY24 audit; board accepts final report
Summary
County auditors presented the FY24 financial statement and single-audit results, reporting an unmodified (clean) opinion; commissioners accepted the audit by resolution and staff noted a required two-year auditor rotation going forward.
County auditors presented the fiscal year 2024 financial statement audit and the single-audit results and recommended several administrative and IT-related improvements. Robert Gonzales, lead partner at Cordova CPAs, told the board the financial statements received an unmodified (clean) opinion and the county received an unmodified opinion on the single-audit compliance tests for three federal programs tested.
Gonzales reviewed the audit timeline, significant year-over-year changes and findings: he said the county'wide results showed increased revenues (from about $50 million to about $58 million) and increased cash balances; the county'maintenance fund gained about $9 million. He noted a material weakness and several significant deficiencies and other matters were reported in the financial-statement findings, but he said one previously repeated finding related to the STARMAX operation had been resolved in 2024.
Gonzales also reminded the board of statutory auditor rotation: his firm has performed the county audit for eight years and must step away for a two-year cooling-off period. He offered recommendations on closing processes, segregation of federal funds in the chart of accounts, continued IT risk assessment and training.
After the presentation the board voted to accept Resolution 25-32, approving the FY24 audit; the roll-call shows Chair Chandler and the commissioners voting yes. County staff said state review steps were completed and the report was released on Jan. 23, 2025, and that the federal clearinghouse filing for the single audit was completed within required timelines.
Representative quote: "You got the cleanest opinion," Robert Gonzales told the board regarding the unmodified opinion on the audit. The board approved the audit acceptance resolution by roll call.
