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Auditor gives Treasure County an unqualified opinion; commissioners approve FY2025 financial statements
Summary
Nexus CPD Group auditor Jordan Bridwell presented an unqualified opinion on Treasure County's fiscal year 2025 financial statements, described a miscoding adjustment (roughly $20,000) and minor recommendations, and the commissioners voted to approve the draft audit and adjusted financials.
Jordan Bridwell, the independent auditor, told the Treasure County commissioners the firm is issuing an unqualified opinion for the fiscal year ended June 30, 2025, meaning "the financials present fairly in all material respects," a result he described as "good news to start." Bridwell reviewed the basis for the opinion, the limits of audit assurance, and one non-material finding involving a miscoded payroll claims posting that required a correcting adjustment.
Bridwell said the miscoding produced a debit balance in the payroll claims fund accounts payable general ledger that was corrected with a journal adjustment and a transfer of cash, and estimated the outstanding discrepancy at about $20,000 before the adjustment. He also reviewed a small number of claims that should have been accrued in FY25 (immaterial to the overall financials) and noted upcoming accounting guidance changes affecting MD&A and federal single-audit thresholds.
Commissioners asked follow-up questions about reconciliations and on-site audit work; Bridwell said the engagement focused on the financial statements and that an internal-control opinion would be a separate engagement. After discussion, the board "approve[d] the draft audit report and financial statements for the year end" and recorded a motion and second to adopt the audit as presented. The county will receive the final audit package reflecting the adjustment and staff were advised to monitor monthly reconciliations to prevent future miscoding.
