Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Auditor: Elko County receives clean opinion; commission approves comprehensive financial report
Summary
External auditors issued an unmodified (clean) opinion on Elko County's financial statements for the year ended 06/30/2024, reporting a $148 million net position and noting ARPA funds were fully spent; the commission voted to accept the report.
Auditor Terry Gage told the commission the county's financial statements for the year ended June 30, 2024, received an unmodified opinion. "Elko County, as of the year ended 06/30/2024, have what we call an unmodified opinion. It is a clean opinion," Gage said.
Gage summarized key figures: the county's net position was about $148,000,000, an increase of roughly $17,500,000 from the prior year, and cash and investments stood at about $117,000,000 with approximately $13,700,000 restricted (including LATCF tribal funds). He noted the American Rescue Plan Act (ARPA) funds were fully spent as of June 30, 2024. The auditors also flagged actuarial liabilities, with a net pension liability of about $43,800,000 and an OPEB (post-employment health) liability around $7,300,000.
After the presentation, Committee member (S5) moved to approve the annual comprehensive financial report and the single audit; the motion was seconded and passed with the commission voting in favor. Chair (S1) closed the item by thanking the auditor and staff for the work that produced the report.
