Receive and file the County’s Annual Comprehensive Financial Report (ACFR) and the Single Audit Report for the fiscal year ending June 30, 2024. (No general fund impact) (Haynes/Mapile)

Receive and file the County's annual financial statements and independent auditor's report for the fiscal year ending June 30, 2024. 

Federal guidelines require that the Single Audit be filed with the Federal Audit Clearinghouse no later than March 31st of each year. On March 31, 2025, the Department of Financial Services (DFS) issued the County’s audited financial statements for the fiscal year ending June 30, 2024, including the Annual Comprehensive Financial Report (ACFR) and the audit of federal expenditures (or Single Audit).  The County’s financial statements received an unmodified (clean) opinion from our independent auditors. However, the audit resulted in one Material Weakness finding, which is discussed in more detail below.

2024-001 – Restatement of Net Position - The auditors recommend the Department of Financial Services thoroughly review all investment earnings, capital asset activity, and long-term debt transactions to ensure all activity is captured and reconciled to full accrual accounting within the Yolo Central Landfill Fund prior to furnishing of the trial balance to the external auditors.

Additional information on this finding and recommendations can be found in the attached Independent Auditors’ Report on Internal Controls over Financial Reporting (Attachment B).

The Department of Financial Services is actively working on process improvements and staff development with the goal of achieving more timely and accurate financial reports that are free of audit findings.

The County's financial statements and associated findings from the County's independent auditors will be discussed at the Financial Oversight Committee meeting on June 17, 2025.