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Lincoln County receives clean audit; disaster funds lifted cash position to $54M
Summary
Auditors reported an Unmodified Opinion on Lincoln County's 2024–25 financial statements, citing growth in cash and capital assets driven by disaster and FEMA funding and noting one low-level capital-asset reconciliation finding being addressed.
Auditors from Cordova's CPA presented the county's 2024–2025 financial audit and delivered an Unmodified Opinion, the highest level of assurance, signaling that the financial statements were presented fairly in all material respects.
Robert Gonzalez, the audit principal, summarized key drivers: disaster relief and FEMA funding increased both revenues and expenditures and lifted the county's cash position from about $46 million to roughly $54 million. He told commissioners, "They had an Unmodified Opinion, which was the highest level of assurance," and said the audit identified a single low-level finding related to capital-asset reconciliations. Gonzalez added the discrepancy involved "small numerical differences, ranging from a few thousand to $20,000 per category," and staff were actively reconciling the records. Finance Director Billie Jo Guevara confirmed follow-up work and said the county was already addressing the procedural issue as part of system conversion plans.
The audit also reported general fund stability, with the general fund growing slightly from $12.3 million to $12.8 million and tax revenues increasing from $22 million to $24 million. Gonzalez emphasized that the audit was performed in accordance with GAAS and GAGAS standards and that no material misstatements or systemic deficiencies were found. The Commission received the presentation and had no further action beyond noting the audit results.
