During a recent government meeting, Lindsey Fish, a partner at Sikich, presented the audit report for the county for the fiscal year ending December 31, 2023. The audit resulted in several reports, with Fish focusing on the annual financial report, which received an unmodified or \"clean\" opinion—the highest level of assurance provided by auditors.

Fish highlighted that while there were no findings of noncompliance with laws or regulations, the audit did reveal four material weaknesses in internal controls over financial reporting. Three of these weaknesses were repeated from the previous year, while one was newly identified. The issues included material audit adjustments, tracking of capital assets, and discrepancies in nursing home receivables and payables.

Specifically, the first finding related to material audit adjustments, indicating weaknesses in internal controls that necessitated adjustments to financial statements. The second finding involved the county's capital asset tracking, which required ongoing updates to ensure accuracy. The third and fourth findings pertained to nursing home receivables and payables, emphasizing the need for better coordination between the finance team and nursing home staff to ensure accurate financial reporting.

Fish also provided financial highlights, noting that the county's governmental activities had an ending net position of $36.5 million, with an increase of approximately $4.5 million over the previous year. The nursing home fund, categorized under business-type activities, reported a net position of $1.046 million, reflecting an increase of $604,000.

The general fund's balance stood at $8.3 million, with an unassigned fund balance that equated to about eight months of operating reserves, indicating a healthy financial position. However, the nursing home fund's unrestricted balance remained low compared to annual operating expenditures, raising concerns about its financial sustainability.

Overall, the audit report underscored the county's financial health while also highlighting areas for improvement in internal controls and financial reporting practices. The findings and recommendations will be addressed in the county's management responses included in the single audit report, which is required due to the county's expenditure of over $750,000 in federal funds.