HomeMy WebLinkAboutCOM 0259.002 2016-2018 Valerie T.Poindexter - Bonnie S.Nims,CGAP
Chair&Presiding Officer O�; • 4Ly ,, Legislative Auditor
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Council District 1
Business Address
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Sr'r. 1266 Kamehameha Avenue
, Suite A-8
6. Hilo,Hawaii 96720
Cunt 'POUlai
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OFFICE OF THE LEGISLATIVE AUDITOR.
25 Aupuni Street Hilo,Hawai`i 96720 * (808)961-8386 * Fax(808)961-8905
website:http://hawaiicounty.gov e-mail.publiclao(dco.hawaii.hi.us
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TO: Valerie T. Poindexter, Chairmanmt-
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And Members of the County Council A m
FROM: Bonnie S. Nims .�
Legislative Auditor
RE: N &K CPAs Inc. Presentation in relation to Comm. 259 and 259.1
Please find the attached PowerPoint presentation materials to be displayed by N&K CPAs Inc. in
relation to Communication 259 "Single Audit Report(FY 06/30/16)" and Communication 259.1
"Comprehensive Annual Financial Report(CAFR)".
In the meantime, please feel free to contact me at 961-8490 should you require further
information.
Enclosures
cc w/o enclosures: N&K CPAs Inc.
Department of Finance
BSN/so •
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Comm. No. 2.9q. 2-'
Ref. To: FL
Ff. DcieMAYjj 2017
Hawai`i County is an Equal Opportunity Provider and Employer
County of Hawaii
Audit Results For the Fiscal Year
Ended June 30, 2016
Hawaii County Council Presentation
IF
Ilk N&K CPAs. Inc.
OUNT,,"" "',JS I CONSULTANTS
May 16, 2017
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
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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
None
1 identified
None
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 the Uniform Guidance
Unmodified
None
None reported
None
SUMMARY OF AUDITOR'S RESULTS (CONTINUED)
CFDA Number
14.239
17.258/17.259/
17.278
20.205
Name of Maior Federal Program
HOME Investment Partnerships Program
WIA/WIOA Cluster
Highway Planning and Construction
5
CHARGED WITH GOVERNANCE
��&,Mrnary of Ce"Tain
Significant Accounting Adoption of the provisions of the following:
Policies:
- GASB Statement No. 72, Fair Value
Measurement and Application
- GASB Statement No. 73, Accounting
and Financial Reporting for Pensions
and Related Assets that are not within
the Scope of GASB Statement 68, and
Amendments to Certain Provisions of
GASB Statements 67 and 68
- GASB Statement No. 76, The Hierarchy
of Generally Accepted Accounting
Principles for State and Local
Governments
- GASB Statement No. 77, Tax
Abatement Disclosures.
REQUIRED COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE (CONTINUED)
Summary of Ceftain Matt,
-.11 �11
Significant Accounting Significant estimates affecting the financial
Estimates: statements include:
• Estimate of the useful lives of capital
assets used to compute depreciation
expense
• Liability for postretirement benefits other
than pensions
• Estimate of the net pension liability
• Estimate of the loss reserves for
worker's compensation
• Landfill closure and postclosure costs
liability
REQUIRED COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE (CONTINUED)
Summary
of
Certain
Matters
i
Corrected and Uncorrected
Misstatements:
There were no misstatements detected
that were considered material, individually
or in the aggregate, to the financial
statements
REQUIRED COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE (CONTINUED)
Summary
of Certain
Matters
is
Difficulties Encountered in
Performing the Audit:
Management Consultation with
Other Accountants:
We encountered no significant difficulties in
dealing with management, including any
disagreements, in performing and
completing our audit
To our knowledge, there were no such
consultations with other accountants
Questions &Comments
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