In a recent session of the Williamson County Commissioners Court, the county auditor presented a comprehensive financial report, highlighting the successful completion of the annual audit for the fiscal year ending September 30, 2024. Julie Kiley, the county auditor, introduced Rebecca Goldstein from Weaver, the auditing firm, who detailed the audit process and findings.

Goldstein emphasized the thoroughness of the audit, which involved reviewing over 200 pages of financial statements and ensuring compliance with Generally Accepted Accounting Principles (GAAP). She noted that the audit did not uncover any significant issues, a positive outcome given the county's substantial budget of nearly $600 million and an $800 million bond program. This lack of material misstatements is a significant indicator of the county's financial health and management practices.

The audit process included an assessment of internal controls, which Goldstein explained is crucial for maintaining the integrity of financial transactions. While the auditors do not provide an opinion on internal controls, they closely examine them to ensure proper segregation of duties and management oversight. Goldstein reported that no deficiencies were found in this area, further reinforcing the county's sound financial practices.

Additionally, the audit addressed potential risks, such as improper revenue recognition, particularly concerning grant revenues and tax collections. Goldstein reassured the court that the audit team conducted detailed testing in these areas and found no red flags.

The meeting also highlighted the collaborative efforts between the audit team and the county's finance department, with Kiley acknowledging the cooperation of her staff throughout the audit process. The audit committee, composed of citizens with accounting backgrounds, plays a vital role in overseeing the audit and ensuring transparency.

In conclusion, the successful audit reflects Williamson County's commitment to financial accountability and transparency. The court anticipates continuing to build on these practices as they move forward, ensuring that the county remains a model of fiscal responsibility in the region.