DEPARTMENT: Finance
FILE TYPE: Regular Information
TITLE
title
Update On 2024 Audit Results
end
PURPOSE/ACTION REQUESTED
Receive an update from CliftonLarsonAllen LLP (CLA) on 2024 audit results.
SUMMARY
Based on Minnesota Statutes, the Minnesota Office of the State Auditor, and other stakeholders, the County is required to have an annual audit in accordance with Generally Accepted Accounting Principles (GAAP) as well as Government Auditing Standards issued by the Comptroller General of the United States. Also, as the County expended over $750,000 of federal awards, the County had a single audit conducted in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Finally, Pursuant to Minnesota Statute 6.65, the Minnesota Office of the State Auditor requires that the County has a legal compliance audit completed annually in accordance with the Minnesota Office of the State Auditor’s Legal Compliance Audit Guide for Counties. The County has contracted with CliftonLarsonAllen LLP (CLA) to conduct these audits.
CLA will present an overview of the County’s 2024 audit written findings related to internal controls over the financial statements, major single audit programs, and the Minnesota Office of the State Auditor’s Legal Compliance Audit Guide for Counties. CLA will also present the County’s 2024 financial results and discuss the County’s financial health.
RECOMMENDATION
recommendation
Information only; no action requested.
end
EXPLANATION OF FISCAL/FTE IMPACTS
☒ None ☐ Current budget ☐ Other
☐ Amendment Requested ☐ New FTE(s) requested
RESOLUTION
body
Information only; no action requested.
end
PREVIOUS BOARD ACTION
None.
ATTACHMENTS
Attachment: Presentation Slides
BOARD GOALS
☐ Thriving People ☐ A Healthy Environment with Quality Natural Resources
☐ A Successful Place for Business and Jobs ☒ Excellence in Public Service
CONTACT
Department Head: Will Wallo
Author: Lucas Chase