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Contracted auditor says Champaign County’s 2024 financials showed a $25.5 million cash overstatement; outside audit remains incomplete
Summary
Orion Smith, working under contract with Gardner & Company, told the Champaign County Board the county’s 2024 financial statements overstated cash by roughly $25.5 million, described systemic bookkeeping gaps dating to 2018, and said the trial balance has been submitted to outside auditors (CLA) who estimate 3–4 months to complete the audit after receiving all requested information.
Orion Smith, a contracted accountant working through Gardner & Company, told the Champaign County Board during a fiscal‑year audit update that the county’s 2024 financial statements contained major reconciliation errors and remain under review by outside auditors.
Smith said the county’s year‑end financials showed roughly $46 million in cash while bank balances indicated about $21 million, producing an overstatement of approximately $25.5 million. He described additional issues including about $7.8 million in unreconciled receivables and numerous inter‑fund posting errors that required correcting journal entries and transfers between trust/agency and highway funds.
The presentation traced problems back to incomplete work papers and turnover in 2018–2020, a difficult transition to the Munis financial system, and repeated…
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