External auditor reports clean opinion on FY2024 statements but notes material weakness and two single-audit findings

Mauldin & Jenkins engagement partner Tim told the audit committee his team issued an unmodified (clean) opinion on Buncombe County's FY2024 financial statements and on the federal and state single-audit compliance reports. "We have issued an unmodified or a clean opinion on the county's financial statements," he said, adding that the audits were completed despite Hurricane Helene's disruption.

Tim said the auditors reported one material-weakness classification because of the size of prior-period adjustments that were necessary to correct beginning balances, notably including accounting for opioid-settlement funds. He described that item as one the auditors have seen in several counties as guidance and data have evolved. Tim also reported two single-audit findings: a significant deficiency tied to mismatches in timekeeping and the reporting used for federal program compliance, and a material-weakness-level finding in the Temporary Assistance for Needy Families program because the required 25% second-party reviews were not consistently performed. County management presented a corrective-action plan for the TANF reviews, and auditors will revisit that program next year as required.

Committee members asked about accounting-policy sections and which parts of the annual financial report are audited; the auditor clarified that introductory and statistical sections are unaudited but that required supplementary information and basic financial statements were within the audit's scope. The committee voted to accept the audit on the record.