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Auditor issues clean opinion on Woodbury County FY2024 financial statements; ARPA funding and reserves highlighted
Summary
Williams and Company presented Woodbury County's FY2024 audited financial report July 22, issuing an unmodified opinion, noting roughly 102 days of unassigned general-fund reserves (127 days for the general basic breakout) and reporting $13.1 million in federal awards for FY2024, about $10.1 million of which were ARPA funds. The board voted 5-0 to receive the report.
Woodbury County received its FY2024 certified annual financial report July 22 and the county's independent auditor issued an unmodified (clean) opinion on the financial statements.
Chad Raineer of Williams and Company told the board the auditor's opinion "In our opinion, the financial statements referred to above present fairly in all material respects," meaning the statements can be relied on for a fair presentation of the county’s financial position. He highlighted the county’s reserve position: the general fund had about 102 days of unassigned reserves at June 30, 2024; when the report breaks out the general basic fund separately, that narrower fund showed roughly 127 days of reserves.
The report includes a schedule of federal awards showing $13.1 million in federal funding during FY2024, of which roughly $10.1 million was American Rescue Plan Act (ARPA) funding. Raineer said the single-audit testing performed on ARPA expenditures disclosed no reportable findings under the uniform guidance. The audit did include a recurring, material-adjusting journal-entry comment — a common control finding the auditor said appears across many clients.
Chad also summarized the financial-statement structure, notes and required supplemental information included in the packet, and said the county's submission for the Government Finance Officers Association certificate of achievement remains in process for FY2024 based on the materials presented.
The board voted 5-0 to receive the certified annual report.
What this means: The clean opinion signals no material misstatement in the county’s audited statements for FY2024. The reserve-day metrics provide a snapshot of liquidity and fund strength; the ARPA-related federal awards require continued compliance and spending monitoring through the federal program deadlines.
Sources: Chad Raineer, Williams and Company; Woodbury County FY2024 audited financial report; board vote.
