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Kingstree audit finds 'unqualified' opinion; single audit required after over $750,000 in federal expenditures
Summary
External auditor Samantha Salisbury presented an unqualified (clean) opinion on the Town's financials and said a single audit of federal expenditures was required because Town spending exceeded $750,000; she noted improvements in internal controls and recommended continued staff training.
Samantha Salisbury, the external auditor, presented the Town of Kingstree’s annual audit at the Oct. 20 council meeting and reported an unqualified (clean) opinion. She told council the audit included testing of federal-grant compliance this year because the Town’s federal expenditures exceeded $750,000, triggering a single-audit requirement.
Salisbury said the audit covered management discussion, financial and compliance statements and supplementary details; required reports have been filed with the federal clearinghouse. She commended finance staff, particularly for shifting from manual, paper-based processes to integrated digital accounting that improved traceability and audit support.
Salisbury noted a prior audit finding about the lack of documented financial policies and procedures has been removed after evidence of established internal controls and consistent use of implemented policies. She recommended continued evaluation of staff training and education to sustain in-house production of financial statements and ongoing improvements to financial controls.
Finance Director Merianne Cowley and Town Manager Kippton W. Coker were recognized for their responsiveness during the audit process. Salisbury said presenting the audit in October, rather than later in the year, marked progress for Town operations.
