Latest Issue: July 21, 2022
Financial audit reveals a first for Stone County
Stone County undergoes a financial audit by an independent auditor ever two years. In 2023 they will move to a yearly schedule.
Shana Harter
Stone County underwent a financial audit by an independent auditor, and the results were a first in county history.
When the county receives or spends more than $750,00 in federal awards money, the county must undergo an independent financial audit of the county budget and those expenditures reported on the SEFA.
SEFA stands for Schedule of Expenditures of Federal Awards. The SEFA tracks and reports how the county spends federal award money to the federal government. Stone County undergoes such examinations every two years.This year, unlike previous years, Stone County’s SEFA received a perfect report - no findings at all.
One of the county clerk’s responsibilities is to keep the records and report these expenditures to the federal government.
County Clerk Denise Dickens said, “We have to keep track of it, we have to report it.”
Dickens pointed over to the row of thick binders spanning a couple of filing cabinets and added, any time any office spends money, we make two copies of it so we can both keep track.”
Stone County Treasurer Kristi Stephens spoke about the SEFA, “This is something that is so hard to [to track]. We have always had findings on our SEFA, every year.”
The Stone County Clerk’s office compiles the SEFA report itself. In 2019 and 2020, there were errors according to the auditor’s report.
Stephens said that part of what makes it so tricky is that several different offices are applying for grants and receiving and spending grants and federal award monies.
“Its not always reported to us,” Stephens added.
“We have literally had auditors come in and tell us that other counties hire CPAs to do their SEFA reporting, and those counties spend thousands of dollars for it,” she added.
SEFA reporting for 2021 fell to Dickens after former clerk Cindy Elmore resigned midterm.
“This year, is the first time ever the SEFA schedule was done perfectly. No findings, perfect -the first time ever,” Stephens said.
The auditor’s report stated: “In our opinion, Stone County, Missouri complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended December 31, 2021.”
The financial audit also examined the 2021 county expenditure budget.
The only finding on the county budget was the following funds that show they exceeded their expenditure budgets:
Flood Control Fund, Law Enforcement Grant Fund, Children’s Trust Fund, Abuse Victims Fund, Sheriff Revolving Fund, Collector’s Tax Maintenance Fund, and the Corona Relief Virus Fund.
Dickens explained the overages. “The county has no way of knowing how much money these funds will bring in, other than looking at past years. The budget is set in January, but the Flood Control Fund monies, for example, are received in September,” Dickens said.
Both Dickens and Stephens noted that more money was received in each of these funds than had been anticipated.
“We are not a business and are not here to make a profit. If more money came in, we had to pay out more. So that makes it appear that the funds exceeded the expenditure budget,” Stephens said.
County Clerk Denise Dickens added, “There was always cash money in these funds. These are separate funds with money in them; they never go negative.”
Some funds like the Law Enforcement Civil Fees Fund and Collector’s Tax Maintenance Fund do not pass through the commissioner’s office. Each elected official responsible for those funds is solely responsible for what is spent.
Stephens said of the Coronavirus Relief Fund, “We appear over budget because we didn’t spend all the money we received. When it was time to return the unused money to the federal government it had accrued interest. We paid out all the money left in the fund which was more than what we stated when we set the budget, so, of course, it shows that we exceeded the expenditure budget.”
According to the auditor, the county has a firm handle on controlling county finances. The report stated, “...during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses.”
Stephens and Dickens also pointed out that the county does not have a deficit budget. Money comes in throughout the year, and it is paid out throughout the year. Each department or office is not handed its budgetary funds in January,” Dickens explained.
Stone County achieved the best audit report in years, a sound budget, and a $3M Emergency Fund to safeguard the county against disaster.
With all that’s going on in the world, it’s nice to have some good news.
Shana Harter
Editor
Stone County Republican/Crane Chronicle
417-229-6175
114 Main St.
PO Box 401
Crane, MO 65633
http://ccscrnews.com
Stone County underwent a financial audit by an independent auditor, and the results were a first in county history.
When the county receives or spends more than $750,00 in federal awards money, the county must undergo an independent financial audit of the county budget and those expenditures reported on the SEFA.
SEFA stands for Schedule of Expenditures of Federal Awards. The SEFA tracks and reports how the county spends federal award money to the federal government. Stone County undergoes such examinations every two years.This year, unlike previous years, Stone County’s SEFA received a perfect report - no findings at all.
One of the county clerk’s responsibilities is to keep the records and report these expenditures to the federal government.
County Clerk Denise Dickens said, “We have to keep track of it, we have to report it.”
Dickens pointed over to the row of thick binders spanning a couple of filing cabinets and added, any time any office spends money, we make two copies of it so we can both keep track.”
Stone County Treasurer Kristi Stephens spoke about the SEFA, “This is something that is so hard to [to track]. We have always had findings on our SEFA, every year.”
The Stone County Clerk’s office compiles the SEFA report itself. In 2019 and 2020, there were errors according to the auditor’s report.
Stephens said that part of what makes it so tricky is that several different offices are applying for grants and receiving and spending grants and federal award monies.
“Its not always reported to us,” Stephens added.
“We have literally had auditors come in and tell us that other counties hire CPAs to do their SEFA reporting, and those counties spend thousands of dollars for it,” she added.
SEFA reporting for 2021 fell to Dickens after former clerk Cindy Elmore resigned midterm.
“This year, is the first time ever the SEFA schedule was done perfectly. No findings, perfect -the first time ever,” Stephens said.
The auditor’s report stated: “In our opinion, Stone County, Missouri complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended December 31, 2021.”
The financial audit also examined the 2021 county expenditure budget.
The only finding on the county budget was the following funds that show they exceeded their expenditure budgets:
Flood Control Fund, Law Enforcement Grant Fund, Children’s Trust Fund, Abuse Victims Fund, Sheriff Revolving Fund, Collector’s Tax Maintenance Fund, and the Corona Relief Virus Fund.
Dickens explained the overages. “The county has no way of knowing how much money these funds will bring in, other than looking at past years. The budget is set in January, but the Flood Control Fund monies, for example, are received in September,” Dickens said.
Both Dickens and Stephens noted that more money was received in each of these funds than had been anticipated.
“We are not a business and are not here to make a profit. If more money came in, we had to pay out more. So that makes it appear that the funds exceeded the expenditure budget,” Stephens said.
County Clerk Denise Dickens added, “There was always cash money in these funds. These are separate funds with money in them; they never go negative.”
Some funds like the Law Enforcement Civil Fees Fund and Collector’s Tax Maintenance Fund do not pass through the commissioner’s office. Each elected official responsible for those funds is solely responsible for what is spent.
Stephens said of the Coronavirus Relief Fund, “We appear over budget because we didn’t spend all the money we received. When it was time to return the unused money to the federal government it had accrued interest. We paid out all the money left in the fund which was more than what we stated when we set the budget, so, of course, it shows that we exceeded the expenditure budget.”
According to the auditor, the county has a firm handle on controlling county finances. The report stated, “...during our audit, we did not identify any deficiencies in internal control that we consider to be material weaknesses.”
Stephens and Dickens also pointed out that the county does not have a deficit budget. Money comes in throughout the year, and it is paid out throughout the year. Each department or office is not handed its budgetary funds in January,” Dickens explained.
Stone County achieved the best audit report in years, a sound budget, and a $3M Emergency Fund to safeguard the county against disaster.
With all that’s going on in the world, it’s nice to have some good news.
Shana Harter
Editor
Stone County Republican/Crane Chronicle
417-229-6175
114 Main St.
PO Box 401
Crane, MO 65633
http://ccscrnews.com