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Okaloosa County posts clean audit; single audit notes fixed-asset tracking deficiency
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Summary
Independent auditors gave Okaloosa County an unmodified opinion on financial statements and single-audit compliance for the year ending Sept. 30, 2025, but reported a significant deficiency in tracking fixed assets purchased with federal or state grant dollars.
Warren Averitt auditors presented the county’s consolidated financial audit for the year ended Sept. 30, 2025, and issued an unmodified (clean) opinion on the financial statements and on compliance for major federal and state programs. Angela Ballard told the board there were no material weaknesses or significant deficiencies in internal control over financial reporting except for one significant deficiency relating to recordkeeping of fixed assets purchased with federal or state grant funds.
Ballard said the county’s general fund showed about $33 million in fund balance with roughly $23 million unassigned and available for allowable uses. Restricted funds include roughly $69 million in tourist development (TDD) funds and approximately $61 million in infrastructure surtax proceeds. A 2025 bond issue of about $46 million supported new government office projects; the road and bridge fund carried about $13 million in fund balance. She also noted a $3 million transfer from the general fund to the EMS enterprise fund during the year to help stabilize operations.
Auditors recommended ensuring county policy on fixed-asset designation is consistently applied to purchases funded by grants so assets are properly tracked. Commissioners praised the audit work; several asked follow-up questions and thanked the audit team for a thorough review.
No board action was required; commissioners asked staff to follow the auditor’s recommendation and to circulate the auditor’s memorandum and legal opinion to the board.
