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Auditors give Collin County a clean single-audit and unmodified financial opinion
Summary
County auditors reported a clean single-audit with no grant compliance exceptions and an unmodified opinion on the comprehensive financial report, noting a $277 million unassigned general fund balance and a $63.9 million positive variance for the year.
County auditors told Collin County Commissioners Court that the county received a clean single-audit and an unmodified opinion on this year’s comprehensive financial report.
Mr. Pruitt, from the county’s auditing firm, said the county receives more than $1,000,000 in federal and state funding and therefore underwent a single audit that included the Coronavirus State and Local Fiscal Recovery Funds and the Fund for Veterans Assistance. “That was a clean opinion,” he said of controls and compliance for the countywide audit work.
On the comprehensive financial report, Mr. Pruitt said the county produced the report in-house this year and auditors issued an unmodified (clean) opinion. He highlighted that the county’s unassigned general fund balance was $277,000,000 and that budget variances produced a net positive change of $63,900,000 for the year — driven by $7,200,000 in additional revenue and $56,400,000 less spending than budgeted, per the presentation.
Mr. Pruitt also noted the report includes a statistical section with unaudited 10-year trend information and pointed to a Government Finance Officers Association award the county had previously received. Commissioners thanked auditors and county staff for the report; no vote was required on the presentations.
