HomeMy WebLinkAboutCOM 0922.002 2016-2018 Valerie T. Poindexter Bonnie S.Nims,CGAP
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Chair&Presiding Officer Legislative Auditor
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Council District 1 -o �' ��'�%'. ,`'s
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Business Address
NP - 120 Pauahi St.
Suite 309
Hilo,Hawaii 96720
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OFFICE OF THE LEGISLATIVE AUDITOR
25 Aupuni Street Hilo, Hawaii 96720 * (808)961-8386 * Fax(808)961-8905
website: http:/,ihawaiicountv.gov e-mail:publiclao ci hawaiicountv.gov
May 1, 2018
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TO: . Valerie T. Poindexter, Chairperson (Dr"
And Members of the County Council =
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FROM: Bonnie S. Nims ) i-
Legislative Auditor
•
RE: N&K CPAS, Inc. Presentation to the Finance Committee Meeting
Please find the attached PowerPoint presentation materials to be displayed by N&K
CPAs Inc. during the Finance Committee Meeting on May 21, 2018.
In the meantime, please feel free to contact me at 961-8490 should you requires further
information.
Attachment
cc w/o attachments: N&K CPAs Inc.
Department of Finance
BSN/Ihs
Comm.N 2.
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Pef.To: L
Ref.Datao. 2 D 18
Hawaii County is an Equal Opportunity Provider and Employer �,�Y
s N&K C PAs, Inc.
ACCOUNTANTS ICON SULTANTS
COUNTY OF HAWAII
Single Audit for the Fiscal Year Ended
June 30, 2017
Scope of Audit Services
■ To express an opinion on the fair presentation of the
County of Hawai`i's financial statements as of and for the
fiscal year ended June 30, 2017.
■ To express an opinion on compliance with applicable
federal requirements that could have a direct and material
effect on each of the County of Hawai`i's major federal
programs for the fiscal year ended June 30, 2017.
■ Our audit was performed in accordance with auditing
standards generally accepted in the United States of
America, the standards applicable to financial audits
contained in GovernmentAuditing Standards, and the
audit requirements of the Uniform Guidance (Title 2 CFR
Part 200)
N&K CPAs, Inc.
Summary of Auditor's Results
Financial Statements
Type of report the auditor issued on whether the
financial statements audited were prepared in
accordance with GAAP: Unmodified
Internal control over financial reporting
Material weakness(es) identified? yesy no
Significant deficiency(les) identified? yesy none reported
Noncompliance material to financial statements
noted? yes ✓ no
Federal Awards
Internal control over major federal programs:
Material weakness(es) identified? yes ✓ no
Significant deficiency(ies) identified? yes ✓ none reported
Type of auditor's report issued on compliance
for major federal programs: Unmodified
Any audit findings disclosed that are required to
be reported in accordance with 2 CFR
200.516(a)? yes V no
N&K CPAs Inc. 3
Summary of Auditor's Results (Continued)
Identification of major federal programs:
CFDA Number
14.228
93.044/93.045/93.053
Dollar threshold used to distinguish between Type A
and Type B programs:
Auditee qualified as a low-risk auditee?
SECTION II - FINANCIAL STATEMENT FINDINGS
No matters were reported.
Name of Federal Program or Cluster
Community Development Block
Grants/State's Program and Non -
Entitlement Grants in Hawaii
Aging Cluster
Capitalization Grants for Drinking
Water State Revolving Funds
$1,379,548
✓ yes
SECTION III - FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
No matters were reported.
no
N&K CPAs Inc. 4
Required Communication with
Those Charged with Governance
Significant Accounting Policies: Adoption of the provisions of the
following:
• 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. 82, Pension
Issues
N&K CPAs, Inc.
Required Communication with
Those Charged with Governance (Continued)
Significant Accounting Estimates: Significant estimates affecting the
financial 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
N&K CPAs, Inc.
Required Communication with
Those Charged with Governance (Continued)
Corrected and Uncorrected There were no misstatements detected
Misstatements:
Difficulties Encountered in
Performing the Audit:
Management Consultation with
Other Accountants:
N&K CPAs, Inc.
that were considered material,
individually or in the aggregate, to the
financial statements
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
� N&KCPAs, Inc.
ACCOU NTANTS1 CONSULTANTS