County Receives ‘Clean’ Opinion For FY 2014 Audit

Los Alamos County Deputy County Manager/Chief Financial Officer Steven Lynne and Janet Pacheco-Morton of CliftonLarsonAllen brief Council on the Comprehensive Annual Financial Report for the fiscal year ended June 30, 2014. Following the briefing, Council voted unanamously this evening to accept the Comprehensive Annual Financial Report. Photo by Carol A. Clark/ladailypost.com

STAFF REPORT

Council voted unanamously this evening to accept the Comprehensive Annual Financial Report for the fiscal year ended June 30, 2014.

CliftonLarsonAllen LLP, an independent accounting firm, performed the audit for the fiscal year. The exit conference with the Audit Committee was held Nov. 21, 2014. The Auditor’s Opinion and the schedule of findings and questioned costs were discussed at that exit conference. The audit opinion is an unmodified “clean” opinion. There were no findings reported.

The Comprehensive Annual Financial Report (CAFR) 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 CAFR results from this County-wide team effort. The CAFR document is produced by the Office of Management and Budget.

The County’s CAFR for fiscal year 2014 was submitted to the Office of the State Auditor Dec. 1, 2014. The CAFR was then reviewed and approved by the Office of the State Auditor. Notice of final approval was received Dec. 12, 2014.

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.

Cost of the audit work performed by CliftonLarsonAllen LLP, which included special procedures performed on the electric resource pool and cost allocation plan was $93,518. Staff time is budgeted annually to accomplish this task.

Read audit: A – CAFR Los Alamos County FY2014

 

 

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