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Ward County Water Resource Board approves 2025 audit, flags internal control weaknesses
Summary
The Ward County Water Resource Board accepted the 2025 draft audit showing GAAP compliance but identified two material weaknesses and one significant deficiency in internal accounting controls; the board approved recommendations and a plan to move away from spreadsheet-based accounting.
Bethany Cichonsky of BradyMartz presented the Water Resource Board with a draft 2025 audit, reporting that generally accepted accounting principles (GAAP) were met but that the audit identified two material weaknesses and one significant deficiency related to internal accounting controls, required adjusting entries to the financial statements, and lack of segregation of duties. Cichonsky told the board that the Nedrose district has been closed and its roughly $4,000 balance was moved to the special assessment fund. She also reported that an uninsured custodial CD risk had been remedied.
Cichonsky reported the board currently owes $1,700,000 and that estimated assessment collections of $1,490,000 are expected between now and 2030. As recommendations, BradyMartz advised the board to stop using Excel spreadsheets for accounting and to use QuickBooks exclusively and to include all bank reconciliations, including CDs, as part of monthly board approval.
After discussion, Jason Zimmerman moved and Roger Kluck seconded a motion to approve the draft audit report; the motion passed 5-0. The board recorded acceptance of the audit and directed staff to implement the listed accounting controls and reconciliation procedures going forward.
The audit presentation and the board’s approval conclude the formal review for 2025; the board will monitor implementation of the recommended accounting changes.
