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Knox County audit shows clean opinion but flags three internal-control deficiencies
Summary
External auditor Wipfli reported a clean, unmodified opinion on Knox County’s financial statements and major federal programs for FY2023–24, while identifying three internal-control findings and one circuit clerk case-testing finding; auditors said corrective-action plans will be tracked and could affect funding or bond ratings if recurring.
Matt Sheeler, a partner with audit firm Wipfli, told the Knox County Board on May 28 that the county received a clean, unmodified opinion on its financial statements and on its major federal program, and that the jail commissary audit also had a clean opinion.
"We do state that it's a clean, unmodified opinion," Sheeler said, adding that auditors identified three internal-control findings classified as significant deficiencies rather than material weaknesses and one small finding in circuit clerk case testing.
Sheeler summarized other fiscal items: roughly $4.8 million in federal funds were expended and tested this year, nearly $1.5 million of state and local fiscal recovery (COVID) funds were reviewed, the IMRF regular plan’s funded ratio rose to about 103%, and the county paid down roughly $1.1 million of principal on bonds and notes. He said auditors will require corrective-action plans and follow up next year to determine whether findings are resolved.
Board members pressed for clarity on consequences. "Once there is a finding…how can they improve on those findings? Because we cannot continue to let findings happen over and over again, especially when it comes to money," Member Davidson said.
Sheeler said the auditors request corrective-action plans and will report any continued findings year over year. He added that recurring findings could raise concerns with state or federal funders and might affect the county’s bond rating if ongoing problems are observed.
The board approved presentation and acceptance of the audit and related single-audit reports by roll call (vote recorded in the meeting). The clerk later confirmed the formal approval at the meeting’s roll call.
The board requested access to corrective-action plans and follow-up results; Sheeler said the county should be able to present evidence of resolution by the next audit cycle (generally by the end of the fiscal year).
