2022-COH - Annual Comprehensive Financial Report

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h r k 1k N&K CPAs, Inc. ACCOUNTANTS I CONSULTANTS INDEPENDENT AUDITOR'S REPORT To the Chair and Members of the County Council County of Hawaii Report on the Audit of the Financial Statements Opinions 999 BISHOP STREET, SUITE 2200 HONOLULU, HAWAII 96813 T (808) 524-2255 F (808) 523-2090 We have audited the financial statements of the governmental activities, the business -type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the County of Hawaii, State of Hawaii (County), as of and for the fiscal year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the County's basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business - type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the County, as of June 30, 2022, and the respective changes in financial position and, where applicable, cash flows thereof and the respective budgetary comparison for the general fund and general excise tax fund for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We have conducted our audit in accordance with auditing standards generally accepted in the United States of America (GARS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the County and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Emphasis of Matter Adoption of New Accounting Principle As discussed in Note 1 to the financial statements, the County adopted the Governmental Accounting Standards Board Statement No. 87, Leases, during the fiscal year ended June 30, 2022. Our opinions are not modified with respect to this matter. -13-