Here are some page numbers with corresponding topical info with regard to the audit. These pages have info which is illuminating and relatively easy to understand.
Page 2- basis for adverse opinion as a whole; adverse opinion.
Page 3- Financial Highlights- discussion of some positive and negative financial news in comparison to 2013.
Page 5- summary of net position and changes in net position.
Page 13- budgeted amounts; original, finally amended and actual 2014.
Page 19- explains "governmental activities" and "business-type activities"
Pages 20-24- give a basic explanation of accounting in county government and types of funds referred to.
Page 27- refers to long-term debt due Dec 15, 2015 that will need to be refinanced. Only reason this is important is because adverse opinion should directly affect credit rating and terms.
Page 31- combining balance sheet of governmental funds
Page 43-48- auditor's report on internal control over financial statements, reporting, etc based on governmental auditing standards. Refers mostly to grant programs and specifically, reporting for Single Audit OMB Circular A-133, which is required by accepting federal grants.
Pages 65-75- Summary, Findings, Award Findings and Questioned Costs. I went through each of these in separate posts on this blog.
Page 76- Resolved and Unresolved schedule of prior Audit Findings. Recaps issues with prior Audits.
Surely most accountants would argue that my pages listed here would give someone an incomplete view of the audit, and that is true, but in the interest of a layman's basic view, I believe one could look at these pages and have a pretty good understanding of the audit as a whole.
All in all, there is some not so bad news within the dark clouds. As I have said before, I believe we are at a point of crossroads, where we can fix the problems now and as a whole, or ignore them and maybe not get a good chance to fix them again for quite some time. In the meantime, the County's credit rating and ability to secure needed grants across service ranges will be damaged. Expect and demand more from your County government as it IS ATTAINABLE!
More later and thanks for reading- DB