HomeMy WebLinkAboutCOM 0235.001 2014-2016Dru Mamo Kanuha
Chair & Presiding Officer
Council District 7
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Bonnie S. Nims, CGAP
Legislative Auditor
Business Address
1266 Kamehameha Avenue
Suite A-8
Hilo, Hawaii 96720
OFFICE OF THE LEGISLATIVE AUDITOR
25 Aupuni Street Hilo, Hawai'i 96720 * (808) 961-8386 * Fax (808) 961-8905
website: http://hawaiicoiinrv.gov e-mail. publiclaoaco.hawaii.hi.us
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Date: April 7, 2015
I
To: Karen Eoff, Chairperson 00
And Members of the Finance Committee
From: Bonnie S. Nims4P
.ez
Legislative Auditor
Subject: External Auditor, N&K CPAs' Presentation of the CAFR and Single Audit
Reports
Attached is the printed copy of the Power Point presentation from external auditors, N&K CPAs
Inc. for the CAFR and Single Audit Reports for the Finance Committee Meeting on
April 14, 2015.
Comm. No. a 315. 1
Ref. To: `ELE
Itef. Lore PR 1 4 2215
Hawaii County is an Equal Opportunity Provider and Employer
County of Hawaii .11"
Audit Results For the Fiscal Year
Ended June 30, 2014
Hawaii County Council Presentation
April 14, 2015
� N&K CPAs, Inc.
ACCOUNTANTS I CONSULTANTS
AGENDA
Summary of Auditor's Results
Comprehensive Annual Financial Report
Single Audit Report
Identification of Major Federal Programs
Required Communication with Those Charged with Governance
Questions and Comments
SUMMARY OF AUDITOR'S RESULTS
Type of opinion
Internal controls over financial reporting:
Material weaknesses identified
Significant deficiencies identified
Noncompliance material to the financial statements noted
Unmodified
,L•�
3 identified
None
ik
SUMMARY OF AUDITOR'S RESULTS (CONTINUED)
Type of opinion on compliance for major federal programs
Internal controls over major federal programs:
Material weaknesses identified
Significant deficiencies identified
Any audit findings disclosed that are required to be
reported in accordance with OMB Circular A-133
Unmodified
None
None reported
None
SUMMARY OF AUDITOR'S RESULTS (CONTINUED)
CFDA Number
14.228
14.239
Name of Major Federal Program am
Community Development Block Grants
HOME Investment Partnerships Program
14.871 Section 8 Housing Choice Vouchers
20.205 Highway Planning and Construction
66.458 Capitalization Grants for Clean Water State Revolving Funds
66.468 Capitalization Grants for Drinking Water State Revolving
Funds
W� REQUIRED COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE
Significant Accounting Adoption of the provisions of GASB No.65,
Policies: Items Previously Reported as Assets and
Liabilities
Significant Accounting Significant estimates affecting the financial
Estimates: statements include:
• Liability for postretirement benefits other
than pensions
• Loss reserves for worker's
compensation
• Landfill closure and postclosure costs
• Contingent liability related to on-going
legal proceedings
REQUIRED COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE (CONTINUED)
Corrected and Uncorrected County of Hawaii: There were no
Misstatements: misstatements detected that were
considered material, individually or in the
aggregate, to the financial statements
DWS: The following material
misstatements were corrected by
management:
• Reverse entry to dispose of electric
pumping equipment
• Accrue additional ERS pension costs
• Reverse recognition of revenue related
to the Waiakea Office Plaza renovations
'� REQUIRED COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE (CONTINUED)
Difficulties Encountered in We encountered no significant difficulties in
Performing the Audit: dealing with management, including any
disagreements, in performing and
completing our audit
Management Consultation with To our knowledge, there were no such
Other Accountants: consultations with other accountants
�V
Questions &Comments