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Roosevelt County accepts FY24 audit with unmodified opinion, auditor flags three budget overexpenditures
Summary
Auditors for Roosevelt County reported an unmodified opinion on the FY24 financial statements and an unmodified single-audit result for the federal recovery program, but noted one other non-compliance: three funds exceeded their approved budgets without end-of-year adjustments.
Rafino Rodriguez of Cordova CPAs told the Roosevelt County Commission the county received an unmodified opinion on its FY24 financial statements and an unmodified single-audit result for the federal Coronavirus State and Local Fiscal Recovery Fund program.
That, Rodriguez said, means the "financial statements are presented fairly in accordance with accounting principles generally accepted in the United States of America," language the auditor read to the commission as the standard unmodified opinion.
The auditor also reported no material weaknesses and no significant deficiencies in internal control, but identified a single "other non-compliance" finding: three county funds had expenditures that exceeded the board-approved budgets for the fiscal year and the county did not file the customary end-of-year budget adjustments to correct the overexpenditures. Rodriguez described the usual remedy: prepare and approve a budget adjustment with the commission and submit it to DFA so the budget authority matches actual expenditures.
Rodriguez urged continued attention to non-financial controls as well. He recommended the county review recent IT penetration-testing results, invest in cybersecurity training, strengthen succession planning for critical functions such as payroll and consider periodically reviewing investment managers and fees to seek better returns or lower costs.
Commissioners asked for more detail on the non-compliance finding and whether the audit report could be distributed with highlighted department-level notes. Rodriguez said the audit team was preparing a booklet with highlights and expected to distribute it to commissioners within a week.
The commission subsequently adopted a resolution accepting and approving the FY24 annual financial audit by motion (resolution number listed on the agenda was corrected during the meeting). The resolution passed by unanimous recorded vote as entered in the minutes.
Next steps: staff indicated they will coordinate any required budget adjustments, circulate the highlighted audit booklet to commissioners and track follow-up from the auditor's recommendations.
