THE AUDIT HAS THREE DIFFERENT STORIES.
The financial statement, federal compliance work and supplemental compliance examination answer different questions. This page keeps them separate instead of turning “audit” into one giant red siren.
Three reportable compliance findings.
These findings come from the separate 17380S compliance report.
Capital asset inventory
The asset listing was incomplete and not current because procedures did not ensure the required complete physical inventory.
Leases and debt schedule
Three equipment/vehicle leases were omitted from the AFR. Audit adjustments increased reported annual lease payments by $478,632.
Capital asset schedule
The reported schedule carried a $128,654,284 overstatement variance against underlying detail. Adjustments were made. That is a reporting variance, not a statement that $128.7 million in cash disappeared.
Controls, federal reporting and equipment.
SEFA preparation
Audit adjustments corrected a net $314,218 overstatement. The finding repeated 2023-001, where federal awards had been understated by $1,211,044.
Suspension / debarment checks
Two covered transactions totaling $73,208 were not verified before payment. Auditors did not identify a suspended/debarred vendor and reported no questioned costs.
Federal equipment controls
Nine equipment purchases totaling $564,248 were affected by property-management control deficiencies. No questioned costs were reported.