County of Madison, Virginia
Delay of FY 2025 Audit Completion
In accordance with requirements from the 2019 legislative session amending Section 15.2- 2511 of the Code of Virginia, effective July 1, 2019, if the locality’s audit is not completed as required by this statute, the locality must promptly post a statement on its website, if such website exists, with the following information: That the required audit is pending,
- The reasons for the delay, and
- The estimated date of completion
The County of Madison, Virginia is hereby posting the following statement:
- The required annual financial audit for FY 2025 is currently pending by the independent audit firm of Robinson, Farmer, Cox Associates, Certified Public Accountants.
- The reason for the delay is as follows: The County’s audit provider was unable to complete the required audit documents timely due to outstanding information currently being reviewed by independent consultants that affect the implementation of the new accounting standard GASB 101 for Compensated Absences at 6/30/2025. This information is needed as it affects the financial statements and a delay in the actual completion of the audit and preparation of the CAFR.
- The estimated date of completion of the required audit, preparation of the CAFR, and the transmittal data to the Auditor of Public Accounts is no later than January 31, 2026.
If there are any questions or concerns, please contact Jonathon Weakley, County Administrator, by phone at (540) 948-7500 or email jweakley@madisonco.virginia.gov.
Jonathon Weakley
County Administrator & Clerk of the Board
Read the Official Letter.