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Board accepts county financial report; auditors issue clean opinions on levies but flag revenue-recognition control deficiency
Summary
External auditors Baker Tilly presented the FY 2024-25 Annual Comprehensive Financial Report (ACFAR) and examinations of levy funds, issuing a clean opinion on financial statements and levy funds, but noting one significant deficiency related to revenue recognition (cutoff/reporting period errors) that will be included in corrective action.
Audit representatives from Baker Tilly briefed the Board on the county's FY 2024-25 audits. Amanda Moore (principal) and Kevin (surname varied in the transcript) reported an unmodified opinion on the Annual Comprehensive Financial Report, meaning the financial statements were presented materially correctly under GAAP. They also reported a significant deficiency in internal control related to revenue recognition and cutoff errors (the deficiency appears in both the governmental auditing standards report and the Oregon minimum audit standards report). The auditors…
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