Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Marion County accepts 2014-15 financial report; auditors issue unmodified opinion
Summary
The Board of Commissioners unanimously approved Marion County's 2014-15 Comprehensive Annual Financial Report after presenters said auditors issued an unmodified opinion; presenters noted the new pension accounting standard improved reported net position but does not affect day-to-day operations.
Marion County commissioners on Jan. 13 approved the 2014-15 Comprehensive Annual Financial Report (CAFR) following a presentation by county finance staff.
Cynthia Granatir and Jeff White presented the audited financial statements for the fiscal year and reported an unmodified opinion from the auditors, the highest level of assurance. The presenters said the county's net position remained positive and that the implementation of the new pension accounting standards improved the county's reported net position. They emphasized that the pension accounting change applies to how liabilities are reported on a full-accrual basis and does not affect daily operations or budgetary accounting.
Chuck Swank of the auditing firm Grove, Mueller & Swank thanked Marion County and the finance department for their work during the audit. Commissioner Sam Brentano moved approval of the report; Commissioner Kevin Cameron seconded and the motion carried on a unanimous voice vote. No exceptions were noted in the report related to Oregon minimum standards, per the presentation.
