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Auditor issues unmodified ("clean") opinion on Amelia County FY2024 financials
Summary
Auditors issued an unmodified opinion on Amelia County's FY2024 financial statements and reported improved timeliness. The report showed roughly $24.3M in governmental assets, $28.5M in revenues and a net decrease after transfers; single-audit coverage of federal programs found no compliance exceptions.
Michael Lupton, partner in charge of the Amelia County audit, presented the FY2024 annual financial report and said auditors issued an unmodified, or "clean," opinion on the county's financial statements.
Lupton summarized key figures: governmental funds total assets of about $24,300,000 and total liabilities of about $3,400,000, with combined fund balances around $19,850,000 and an unassigned fund balance near $5,300,000 as of June 30, 2024. He reported total governmental revenues of about $28,500,000 and expenditures of about $28,800,000 for a decrease before transfers of roughly $278,000; after transfers there was an overall decrease of about $729,000 for the year. On the sanitary district, Lupton said total assets were about $6,100,000 and the fund showed an operating loss (including depreciation) of about $141,000 but an overall net increase after transfers.
Lupton noted the audit was completed faster than the prior year and that federal-program single-audit work covered ARPA and other programs with "no instances of noncompliance when performing the single audit of these federal programs." Board members thanked the audit team; interim administrator Mr. Mundy (speaker 7) and finance staff discussed next steps for internal-control improvements and forthcoming policy rollouts tied to the budget process.
