Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
External auditors give Livonia Public Schools a clean draft opinion; single-audit pending federal compliance supplement
Summary
Plant Moran auditors told the Livonia Public Schools Board auditors produced an unmodified opinion on the district's financial statements but the federal single-audit cannot be finalized until the U.S. compliance supplement is issued; auditors and district staff highlighted fund-balance strength and changes from new GASB guidance.
Lisa Vargo, partner at Plant Moran, told the Livonia Public Schools Board of Education at its Oct. 13 Committee of the Whole meeting that the external audit yielded an unmodified opinion on the district’s financial statements.
“This is what we are hired to do … I’m happy to report that we are able to provide an unmodified opinion,” Vargo said during the finance committee presentation.
The auditors also reviewed internal controls, tested federal programs and prepared a draft single-audit package. Vargo said the district will not be able to finalize the federal single audit until the federal government issues the annual compliance supplement; Plant Moran has tested to a draft of that document and expects no changes but cannot sign the single-audit opinion until the supplement is final. Vargo said the Office of Management and Budget and Michigan Department of Education are aware and allowing a temporary filing deferral.
Why it matters: an unmodified ("clean") opinion is the highest level of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
