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Accept the Annual Audit of the Statement of Assets of the Solano County Treasury as of June 30, 2023
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
The Auditor-Controller’s Office (ACO) recommends the Board of Supervisors accept the Annual Audit of the Statement of Assets of the Solano County Treasury as of June 30, 2023.
SUMMARY AND DISCUSSION:
Pursuant to Government Code §26920, the ACO must either perform or cause to be performed an annual audit of the Treasurer’s Statement of Assets (Statement) in the County Treasury with an opinion of whether the Statement is fairly presented in accordance with accounting principles generally accepted in the United States of America.
The ACO contracted with Eide Bailly, L.L.P., CPA to issue an independent opinion of whether the Statement is fairly presented in accordance with accounting principles generally accepted in the United States of America. The ACO counted cash on hand in the County Treasury and verified the records of the Treasurer and ACO were reconciled pursuant to Government Code §26905.
Based on the audit, Eide Bailly issued an unmodified opinion (“clean” opinion) on the Statement. An unmodified opinion indicates the financial statements are presented fairly in accordance with accounting principles generally accepted in the United States of America.
The ACO determined records of the Treasurer and ACO were reconciled pursuant to Government Code §26905.
FINANCIAL IMPACT:
The acceptance of the report has no financial impact.
ALTERNATIVES:
The Board of Supervisors could elect not to accept the audit of the Statement of Assets of the Solano County Treasury as of June 30, 2023.
This alternative is not consistent with sound public policy and is therefore not recommended.
OTHER AGENCY INVOLVEMENT:
The County Treasurer has reviewed and accepted the report.
The County Administrator’s Office has reviewed the report.
CAO RECOMMENDATION:
APPROVE DEPARTMENTAL RECOMMENDATION