Deputy Treasurer Jim Massman, standing, and auditor Mike Decoria presented the Fremont County Commission with the 2013 audit report. Joshua Scheer photo.
(Lander, Wyo.) – The Fremont County Commission on Tuesday received a clean, unqualified audit report for the 2012-13 Fiscal Year.
Deputy Treasurer Jim Massman and Mike Decoria of Decoria, Maichel and Teague P.S. presented the audit report. Massman began the presentation by showing the commission where it could find different pieces of information throughout the more than 100-page financial document.
Decoria said the audit of the county went well, and that the auditors felt comfortable with the internal controls used and the quality of the staff to perform their jobs.
In total, Fremont County’s net position as of June 30, 2013, was $131,778,000.
There was one finding that the audit team did feel the need to report to the commission, and Decoria termed it “significant” but not a “material weakness.”
The auditors found that the county had failed to identify $590,000 in receivables to a newly created fund, money expected to come in as revenue. Massman explained to County10.com that the new fund was the infrastructure account for the 1 percent sales tax. Sales are provided to the county two months after they are collected. Massman said the county failed to identify in their reporting the 1 percent sales tax expected to come in from May and June 2013.
The auditors report states, “identification by the auditor of a material misstatement of the financial statements under audit in circumstances that indicate that the misstatement would not have been detected by the entity’s internal control should at least be regarded as a significant deficiency and should be considered as a strong indicator of a material weakness in internal control.”
Furthermore, the report states the county has addressed the issue. “The Deputy Treasurer has refined the written procedure that describes the search for receivables. The revision specifies that subsequent receipts for all funds be considered.”
A number more minor issues were reported as needing to be addressed. Among those were missing pieces of Fair Board employee files, supervisor sign-offs on time cards, and immediate calculation of depreciation on completed capital projects.
Past years of Fremont County financial data are available on the county’s website. Massman hoped to have the 2013 information added by the end of the week.