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Durham County audit flags $2.5M fair‑market adjustment; board told to monitor trends
Summary
Auditors presented the FY2023 Annual Comprehensive Financial Report and Single Audit, citing a $2.5 million fair‑market‑value misstatement evaluated as a significant deficiency (not reported as significant); commissioners were advised to monitor liquidity and noted increased pension funding.
Scott Anderson, audit director for Cherry Bekaert, presented Durham County’s FY2023 Annual Comprehensive Financial Report and Single Audit to the Board of County Commissioners on March 25 and said auditors identified a $2.5 million fair‑market‑value adjustment that was evaluated “at a significant deficiency level,” though it was not reported as a significant deficiency. Anderson also discussed…
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