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County auditors issue clean FY25 opinion, note two technical findings
Summary
An external auditor told the Jones County Board of Commissioners on May 19 that the countyreceived a clean (unmodified) opinion on its FY25 financial statements and single audit, while citing two process-related findings on capital-asset classification and water/sewer year-end procedures.
David Irwin, a partner at Malden Jenkins, told the Jones County Board of Commissioners that his firm is issuing a clean (unmodified) opinion on the countyFY25 financial statements and on the required single audit. "We're issuing a clean or unmodified opinion on this year's report," Irwin said, adding that the opinion means, in his view, the statements are "fairly presented in all material respects" under generally accepted accounting principles.
Irwin summarized the county's financial position: total assets and deferred outflows of about $107 million; about $66.5 million in net capital assets; roughly $37.2 million in cash and investments; and an approximate net position increase of $1.7 million for the year. He said general‑fund revenues were about $26.4 million and expenditures about $26.8 million, leaving an unassigned fund balance equal to roughly seven months of operating expenditures.
The auditor also described two findings that do not affect the audit opinion. The first concerns classification of certain capital assets under GASB 87 (the governmental leasing standard), where some assets were recorded both as traditional capital assets and on lease schedules; the auditor said the county adjusted records to correct the duplicate recording and recommended stronger capital‑asset review and reconciliation processes. The second finding involved year‑end closeout procedures in the water and sewer department, including depreciation and inventory tracking: the auditor recommended more routine close procedures and enhanced financial reporting controls for that department.
Irwin said the county received "full cooperation" from management and staff and that the findings represented opportunities to strengthen internal controls rather than errors that would change the audit opinion. The presentation closed with Irwin encouraging commissioners and residents to review the managementdiscussion and analysis (MD&A) section of the financial statements for further context and trends.
The board did not take formal action on the audit at the meeting; staff were thanked for their work and the presentation concluded with an invitation for questions and follow-up.
