Special to the Mountain Advocate
State Auditor Adam Edelen has released the audit of the 2013 financial statement of Knox County Clerk Mike Corey. State law requires the auditor to conduct annual audits of county clerks and sheriffs.
Recent changes in auditing standards require the auditor’s letter to communicate whether the financial statement presents fairly the revenues, expenditures and excess fees of the Knox County Clerk in accordance with generally accepted accounting principles in the United States.
The report found that the financial statement of the Clerk did not follow this format; however, the Clerk’s financial statement is fairly presented in conformity with the regulatory basis of accounting, which is an acceptable reporting methodology. This reporting methodology is followed for all 120 clerk audits in Kentucky.
The auditor noted no instances of noncompliance. The auditor also noted no matters involving internal control over financial reporting and its operation that were considered to be material weaknesses.
The county clerk’s responsibilities include collecting certain taxes, issuing licenses, maintaining county records and providing other services. The clerk’s office is funded through statutory fees collected in conjunction with these duties.
The audit report can be found on the auditor’s website.