Title
Consideration of the FY2019 Comprehensive Annual Financial Report with Auditor's Opinions.
Recommended Action
I move that Council accept the Comprehensive Annual Financial Report for the fiscal year ended June 30, 2019.
County Manager's Recommendation
The County Manager recommends that Council approve the motion as requested.
Body
The Comprehensive Annual Financial Report (CAFR) documents the County's financial position at the end of the fiscal year, and the results of its operations for that full twelve-month period.
Throughout the fiscal year, many departments and employees help the County record the County's financial activity through the decentralized financial system. Ultimately, the CAFR results from this County-wide team effort. The CAFR document is produced by Finance. The County's CAFR for fiscal year 2019 was submitted to the Office of the State Auditor by the deadline on December 2, 2019. The CAFR was then reviewed and approved by the Office of the State Auditor. Notice of final approval was received on December 19, 2019 (see attachment A).
Morton Accounting Services, LLC, an independent accounting firm, performed the audit for the fiscal year. The exit conference with the Audit Committee was held on November 26, 2019. The Auditor's Opinion (pages 1-3 of the CAFR) and the schedule of findings and questioned costs (pages 234-239 of the CAFR) were discussed at that exit conference. The audit opinion is an unmodified "clean" opinion. The two prior year audit findings were resolved and there is one new finding over payroll transactions.
The State Audit Rule 2.2.2.10 J. (3) (d) requires that the audit report shall be presented by the auditor to a quorum of the governing body at a meeting held in accordance with the Open Meetings Act.
Physical copies of the FY2019 Comprehensive Annual Financial Report were distributed to Council mail boxes on January 7, 2020. Copies of the CAFR will be available for public viewing on the County we...
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