State & Local Reports

What Was Performed? A financial statement audit of the Achieving a Better Life Experience Act of 2014 (ABLE) Consortium Trust for Fiscal Year Ended June 30, 2019.Why This Engagement? The State of Delaware is a participating member of the ABLE Consortium Trust along with 16 other states. These statements were audited by a firm engaged by the Trust. The ABLE Act provides eligible individuals with blindness or qualifying disabilities a means to save for disability-related expenses in a tax -advantaged way through section 529A of the Internal Revenue Code. A consortium of states (Member States), of which the State of Delaware is a member, collaborated to facilitate the implementation and maintenance of qualified ABLE programs. Each Member State has adopted enabling legislation to establish a qualified plan under Section 529A.

What Was Performed? The Auditor of Accounts (AOA) performed an Agreed-Upon Procedures engagement on the Office of State Treasurer Bank Reconciliations for Quarter Ended September 30, 2018.Why This Engagement? The Auditor of Accounts is mandated to arrange this audit in accordance with 29 Del. C. §2906(b). The Auditor of Accounts reviewed the bank reconciliation produced by the Office of the State Treasurer to ensure the reconciliations are accurately stated.