Agency+Summary+-+LAFRC+-+PERS+and+RIO.docx
DOCX document 49 KB Posted
- Solicitation number
- 117-25-04
- Issued by
- Burleigh County, North Dakota
About this file
This document is an audit summary for a financial statement review, likely involving a state or local government agency, potentially related to PERS (Public Employees Retirement System) and RIO (Retirement Information Office). The audit was conducted for the fiscal year ended June 30 of an unspecified year, with the primary purpose of determining the financial statements' accuracy and freedom from material misstatement. The audit resulted in an unmodified opinion, indicating no significant issues were identified.
The audit identified one accounting adjustment involving the reclassification of $6,352,941 in notes receivable between current and noncurrent categories, which was corrected by management. The total reported financial statement balances include assets of $334,464,250, liabilities of $209,430,600, and a balance of $125,033,650. The audit cost was not fully disclosed, with only partial cost information provided. No prior audit recommendations were outstanding, and no disagreements with management or significant difficulties were encountered during the audit process. The financial review appears to be a routine annual assessment of the organization's financial reporting and accounting practices.
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Other files
| File | Type | Posted |
|---|---|---|
| Amendment+1+-+PERS+RIO+-+2025-2027.pdf | ||
| Cost+Proposal+Format+-+PERS+and+RIO.docx | DOCX document | |
| Technical+Evaluation+Worksheet+-+PERS+and+RIO.xlsx | XLSX spreadsheet | |
| 117-25-04+PERS+and+RIO.pdf | ||
| Contract+Template+-+PERS+and+RIO.docx | DOCX document |
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Text version
Summary of XXXXX Audit
For Fiscal Year ended June 30, XXXX
Prepared by XXXXX
DATE
Purpose of the audit – To determine that the financial statements are free from material misstatement.
Type of opinion – Unmodified
Summary of findings/recommendations:
No findings/recommendations
Status of prior audit recommendations:
No prior audit recommendations.
Explanations of significant audit adjustments and correct or uncorrected misstatements:
1. The following material misstatements were identified as a result of the audit procedures performed, which were corrected by management:
See page 44 of the report.
2. The following uncorrected misstatements were identified as a result of the audit procedures performed, which were determined by management to be immaterial both individually and in the aggregate:
· None
Disagreements with management or difficulties encountered in performing the audit: None
Other items to highlight in the report: None
Cost of the audit – Current audit - $XX,XXX Prior audit - $XX,XXX image1.emf
Microsoft_Excel_Worksheet.xlsx Agg Error
ND Mill and Elevator
Aggregation of Errors
----------------------- BALANCE SHEET ---------------------- STMT. OF REV. & EXP./STMT. OF CHANGES
ERROR EXPENDITURES REVENUE
TYPE FUND REVENUE AND AND OVER
B-booked (L-LIKELY ASSETS LIABILITIES BALANCE OTHER ADDS. OTHER DEDS. (UNDER)
W/P REF. DESCRIPTION P-passed DR. CR. K-KNOWN) INC/(DEC) (INC)/DEC (INC)/DEC (INC)/DEC INC/(DEC) EXPENDITUERS
1 Notes Receivable - Noncurrent B 6,352,941 K 6,352,941.00 6,352,941
Notes Receivable - Current 6,352,941 (6,352,941) (6,352,941) 0
0 0 0
0 0
0 0 0 0 0
0 0
TOTAL ERRORS 0 0 0 0 0 0
CLIENT BALANCE AS REPORTED
Hoffmann, Robyn L.:
Financial Statements 334,464,250 209,430,600 125,033,650 70,698,235 53,459,971 17,238,264
ERRORS AS A PERCENTAGE 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
LESS: ERRORS CORRECTED 0.00 0.00 0.00 0.00 0.00 0.00
PASSED ERRORS 0 0 0.00 0 0 0
CLIENT BALANCE AS REPORTED 334,464,250 209,430,600 125,033,650 70,698,235 53,459,971 17,238,264
ERRORS AFTER ADJUSTMENTS AS PERCENTAGE 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Conclusion: The one Agg Error was posted to the financial statements.
Posted
Audit Adjustment
Account Description Debit Credit Explanation
Statement of Net Position
Notes receivable - noncurrent $ 6,352,941 To properly classify Notes Receivable between current and noncurrent
Notes receivable - current $ 6,352,941 image1.png image2.png
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