Logan County audit shows only
deficit in retirement fund
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[April 23, 2016]
- On Thursday, April 14, 2016, when the Logan County Board held its
monthly Workshop the featured topic was the recently returned audit
for 2014/15; and its single audit a report on the internal control
over financial reporting and compliance related to Government
Results of financial audit
Adam Pulley of Clifton, Larson, and Allen, the company that
conducted the audits, shared the results of the audit with the
board. He handed out a packet that showed the analysis of the
financial statements and gave a brief overview of the finances.
Pulley said his firm "issued an unmodified or clean opinion on the
audit of the financial statements." He said the firm also "issued a
single audit report over the federal grant programs" which includes
"findings and recommendations over the financial statements."
Pulley said the only fund with a deficit balance was the Illinois
Municipal Retirement Fund. Pulley said with pension changes, there
are liabilities on the books for many counties. He said changes have
resulted in an estimated liability of $2.3 million for pensions. His
firm relies on IMRF and their actuaries in figuring out the amount,
and IMRF makes assumptions based in part on the rate of return.
He said the loss this year for the health department was around
$309,000. If the fiscal year 2016 showed similar results, the
Department of Public Health would then be at a deficit balance.
Pulley said a few expenditures exceeded the budget and auditors
found one discrepancy with a grant not budgeted for by the Coroner's
Moving on, Pulley said cash deposit and receivables showed a
decrease due to the state being behind in payments.
He said the county's income statements show a steady increase in tax
levees. The income tax increased from $1.3 million in Fiscal Year
2014 to $1.4 million in Fiscal Year 2015. In that same period, sales
tax increased from $1.8 million to $1.9 million.
Pulley said the Motor Fuel Tax went down because the state of
Illinois did not get the same amount of funding in Fiscal Year 2015.
Pulley said expenditures increased 2.5 percent from $14.5 million to
$14.9 million. He said total governmental funds of the county
decreased this year from $10.6 million to $10.1 million mainly due
to losses in the Health Department and County Bridge Funds.
Pulley said the general fund increased due to the increase in tax
revenues. There was an ending roll-over of $1,765,000 to rollover
into the next fiscal year.
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Pulley said the county ended Fiscal Year 2014-2015 with $17.4 million in equity.
Pulley said the control letter his firm sent gave some recommendations on a
couple of items. Items noted were the Probation Office Restitution Fund and a
miscalculation of insurance premiums between employee and employer portion. The
firm recommended "tightened controls."
Pulley said in years past, the firm noted several issues and recommendations.
Since the issues are down to two this year, Pulley said, "it is more indication
that the county has been working on seriously considering what we had
Pulley said it is "evident the board and management" have been "keeping an eye
on the finances" as well as "recommendations for what can be done to improve."
Pulley said department heads were "very helpful and forthcoming with information
O'Neill said he was impressed with the steady increases in sales and income tax.
He said in his 14 years on the board, some years did not show those increases.
Guests at the Workshop included Adam Pulley, Steve Carone, and Lindsay Stamp of
Clifton, Larson, and Allen, a public accounting firm; County Treasurer Vicki
Dugan, Diane Turner of Logan Mason Transport Company, Alison Rumler-Gomez of
Community Action, and Zoning Officer Will D'Andrea.
At the Tuesday, April 19, Regular meeting of the board, at the recommendation of
Finance Chairman Chuck Ruben, the both the audit and single audit passed
unanimously with 11 voting yes.