Dutchess County Comptroller Robin Lois Announces the Release of the Dutchess County Audited Basic Financial Statements
Today, Dutchess County Comptroller Robin Lois announced the release of the Dutchess County Audited Basic Financial Statements. These statements include the Independent Auditors’ Reports from Drescher & Malecki LLP for the year ended December 31, 2020. Their audit reported no material weaknesses, significant deficiencies, or noncompliance. Dutchess County was rated as a “low-risk auditee.”
Of note, the audited financial statements show that the General Fund did not decrease due to the financial challenges faced during the COVID 19 pandemic. At the end of 2020 the unassigned fund balance for the General Fund was $60,033,276 – up over $3 million from 2019 year-end balance reported of $56,872,790. Budgeted revenue, including state aid, decreased at a similar rate as expenses during 2020. Sales tax revenue for the year rebounded strongly in the last quarter, minimizing the impact of the pandemic as well.
The County audit committee requested the county cyber security and risks be evaluated; the independent auditors found that Dutchess County’s IT environment, staffing and controls are strong and a model for other counties. Additionally, the County’s auditors recommended that the County develop written policies and procedures to facilitate knowledge transfer and provide a formal written succession plan for critical employee functions. Dutchess County, as many governments, face continuity and consistency performance issues due to employee turnover and the recent retirement incentive that resulted in many departmental voids. “The Comptroller’s office will monitor and reinforce this recommendation as an important tool in maintaining effective government operations,” stated Dutchess County Comptroller Robin Lois, who serves as chair of the County’s Audit Committee.
“I appreciate the effort put into compiling the information for this report by staff across various County departments involved – especially the Dutchess County Department of Finance,” concluded Comptroller Lois.
View or Download the Dutchess County Audited Financial Statements (.pdf) >>>
