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County auditor and external auditor report clean fiscal-year 2025 audit, note GASB 101 impact
Summary
County Auditor Patty Smith and external partner Jeremy Myers presented the FY2025 ACFR and PAFR, reporting a clean audit opinion with no findings, noting a separate Raising Travis County fund column in the report and that GASB 101 increased the government-wide liability for compensated absences.
County Auditor Patty Smith and the county's external audit partner presented the Travis County Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR) for the fiscal year ended Sept. 30, 2025. "As Patty mentioned..." Smith said, explaining audit process responsibilities and that the auditor reports to the district judges and provides monthly financial statements to the court as a statutory requirement.
Jeremy Myers, the external audit partner with Atchley and Associates, said the audit resulted in a "clean" opinion with "no findings, no recommendations." He noted two items new to this year's audit: inclusion of the Raising Travis County fund as its own column and GASB 101's increased reporting of compensated-absence liabilities. "This year's audit did bring 2 different things that were new... GASB 101... increased the government wide liability for all the different types of leave," Myers said. The auditors described testing of controls across payroll, IT and other financial processes and emphasized the county's continued AAA bond rating.
The court received the ACFR and no formal vote was required to accept it at the meeting; the auditors encouraged interested readers to review the management discussion and analysis section for context.
