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Surry County audit finds clean opinion but flags control and compliance issues
Summary
Gould Killian presented Surry County’s FY25 audit: auditors issued a clean (unmodified) opinion but reported a material weakness related to roughly $630,000 in unrecorded receivables and about $1.4 million in miscoded capital outlay, plus one instance of material noncompliance in the landfill fund.
Travis Keever of Gould Killian CPA Group told the Surry County Board of Commissioners that auditors issued a clean (unmodified) opinion on the county’s FY25 financial statements but identified significant internal control and compliance concerns. Keever said auditors found one material weakness — approximately $630,000 in unrecorded accounts receivable and about $1.4 million in miscoded capital outlay — and one instance of material non-compliance tied to expenditures exceeding appropriations in the landfill fund due to an unbudgeted equipment financing.
Keever summarized the county’s fiscal picture: total assets near $87 million, total revenues of $119 million and total expenditures of $121 million, with an available fund balance around 45% of net expenditures (well above the Local Government Commission’s recommended 25% minimum). He also reported a property tax collection rate of over 99%.
The presentation did not propose board action; it recorded the audit findings for management follow-up. County staff and the auditor acknowledged the matters on the record and indicated steps will be taken to correct accounting and appropriation processes. The board did not take a separate vote on the audit presentation itself but heard the results during the meeting.
