Finance & Audit Report Update

March 20, 2023

The Finance and Audit Committee and Association staff on Monday, March 6, met with Ken Meadows from Greene Finney Cauley regarding the Annual Financial Audit. Mr. Meadows presented a brief overview of findings of the annual audit of the Association, as well as the Insurance Services and Foundation financial documents. Based on their in-depth review of the expenditures and revenue transactions in all three accounts, their opinion is that all the transactions were conducted within the accepted accounting standards and that all three accounts are in very good financial condition. The Committee voted unanimously to accept the audit as presented and to refer to the Executive Committee for final review and approval.

Zorrina Harmon, Director of the South Carolina Firefighters Insurance Services, also discussed an independent audit that was recently completed on the SCFIS Trust Account. Based on their findings, the transactions related to this account were found to be in order and the account was in good financial standing as well.