Pursuant to federal regulations, Uniform Administrative Requirements Section 200.511, the following is the finding as noted in Bay County’s Single Audit report for the year ended December 31, 2024, and corrective action to be completed.
2024-001 – Variance in Quarterly Reporting
Auditor Description of Condition and Effect: During the audit, we noted a variance between amounts reported in all quarterly P&E reports and amounts recorded in the general ledger and presented on the schedule of expenditures of federal awards (SEFA) for fiscal year 2024. This resulted in an overall total difference of $320,511 between the 2024 P&E reports and the County's general ledger and SEFA.
Auditor Recommendation: We recommend that the County reconcile quarterly P&E reporting with amounts in the general ledger to ensure that all expenditures reported are classified in the correct project category on the P&E reporting and in the correct reporting period. We recommend an independent review is completed to ensure the reporting is accurate.
Corrective Action: Management will conduct the final review and cross-check between the general ledger entries and amounts reported on the quarterly P&E reports to ensure accuracy in the amounts reported for the period.
Responsible Person: Scott Trepkowski, Finance Officer
Anticipated Completion Date: 12/31/2025