Audit partner: Parker County receives unmodified (clean) FY2025 opinion, no material weaknesses

Auditors from Weaver & Tidwell presented Parker County's fiscal year 2025 financial statement audit to the Commissioners Court on June 25 and said they would issue an unmodified (clean) opinion on the financial statements.

"Our opinion on those financial statements is unmodified," said Greg Peterson, audit partner, after outlining the risk-based audit approach and single-audit procedures tied to federal and state awards. Peterson said the audit team did not identify material weaknesses or significant deficiencies in internal controls, and found no noncompliance in the federal and state programs tested.

Peterson summarized key financial figures: total governmental assets of $209,500,000, liabilities of $26,500,000 and an ending fund balance of $181,600,000. He noted the general fund held $55,600,000 in assets with an unassigned fund balance of $48,000,000—roughly five months of operations—and highlighted $6,500,000 in ARPA funding available to spend through December 2026. Peterson also described budget-to-actual variances driven by stronger-than-expected sales tax and investment earnings and noted certain reclassifications under GASB 87/96 that affected debt-service reporting.

Commissioners asked for clarification on what constitutes a healthy reserve. Peterson said the industry standard is roughly three to six months of unassigned fund balance and warned that exceeding six months without a policy reason raises questions. After discussion, the court made and approved a motion to accept the audit report by a 5-0 vote.