Title
Consideration and Possible Acceptance of the FY2024 Annual Comprehensive Financial Report with Auditor's Opinions
Recommended Action
I move that Council accept the Annual Comprehensive Financial Report for the fiscal year ended June 30, 2024.
County Manager's Recommendation
The County Manager recommends that Council approve the motion as requested.
Body
The Annual Comprehensive Financial Report (ACFR) 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 ACFR results from this County-wide team effort. The ACFR document is produced by Finance. The County's ACFR for fiscal year 2024 was submitted to the Office of the State Auditor by the deadline on December 1, 2024. The ACFR was then reviewed and approved by the Office of the State Auditor. Notice of final approval was received on December 20, 2024 (see attachment A).
Hinkle + Landers, PC, an independent accounting firm, performed the audit for the fiscal year. The exit conference with the Audit Committee was held on November 19, 2024. The Auditor's Opinion (pages 1-4 of the ACFR) and the schedule of findings and questioned costs (pages 257-258 of the ACFR) were discussed at that exit conference. The audit opinion is an unmodified "clean" opinion. There were no prior year audit findings and no findings for FY2024. The County received an unmodified and clean opinion.
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 FY2024 Annual Comprehensive Financial Report have been distributed to Council mailboxes. Copies of the ACFR will be available for public viewing pr...
Click here for full text