Harmon releases audit of Pulaski County Fiscal Court, COVID cited
FRANKFORT, Ky. (WTVQ) – State Auditor Mike Harmon has released the audit of the financial statement of the Pulaski County Fiscal Court for the fiscal year ended June 30, 2020 and several of the citations are related to COVID issues (2020PulaskiFC-PR).
While the audit contains a number of comments, it does not suggest any wrong doing.
State law requires annual audits of county fiscal courts.
According to Harmon, auditing standards require the auditor’s letter to communicate whether the financial statement presents fairly the receipts, disbursements, and changes in fund balances of the Pulaski County Fiscal Court in accordance with accounting principles generally accepted in the United States of America.
The fiscal court’s financial statement did not follow this format. However, the fiscal court’s financial statement is fairly presented in conformity with the regulatory basis of accounting, which is an acceptable reporting methodology.
This reporting methodology is followed for 115 of 120 fiscal court audits in Kentucky.
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.
The audit contains a number of comments and issues, severaL of which are related in part to the COVID pandemic and canceled meetings, which led to issues, according to responses from county officials.