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Board Accepts 2024–25 Audit; Adverse Opinion Tied to Cash-Basis Reporting; Timecard Controls Flagged
Summary
The Unit District 196 board accepted the 2024–25 audit. Auditors issued an adverse opinion because the district reports on a cash basis rather than GAAP accrual basis; the report contained one compliance finding about approval of automated time sheets for noncertified staff. District staff said they expect the issue to be resolved next year.
Unit District 196’s board on Sept. 23 accepted the district’s 2024–25 audit, which included an adverse opinion tied to the district’s use of cash-basis financial statements rather than generally accepted accounting principles (GAAP) accrual statements. Apart from that qualification, the administration reported no internal-control or compliance findings of a serious nature.
At the meeting a…
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