The Whitley County Fiscal Court has gotten a clean financial bill of health in regards its financial statement for the 2016-2017 fiscal year, which ended June 30, 2017.
Kentucky Auditor of Public Accounts Mike Harmon made the report of the audit of the Whitley County Fiscal Court on Feb. 15, 2018.
“The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards,” Harmon wrote in the report. “The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or compliance.”
The report looked at the statement of receipts, disbursements, and changes in fund balances, and related notes, which collectively comprise the Whitley County Fiscal Court’s financial statement.
The report showed that the fiscal court had total receipts of $16,336,439 for the 2016-2017 fiscal year, and $43,907,917 in total capital assets, including buildings worth $26,195,930 and infrastructure valued at $13,099,838.
State law requires annual audits of county fiscal courts.
“As part of the audit process, the auditor must comment on noncompliance with laws, regulations, contracts, and grants. The auditor must also comment on material weaknesses involving internal control over financial operations and reporting,” Harmon wrote in a news release Wednesday morning.
“The auditor noted no instances of noncompliance. The auditor also noted no matters involving internal control over financial reporting and its operation that were considered to be material weaknesses.”