Jamestown schools receive clean audit; auditors note two material weaknesses, single-audit compliance ok
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Summary
External auditors Widmerall presented an unmodified opinion on the district’s 2023–24 financial statements, reported a clean single-audit on Title I, and identified two material weaknesses that management addressed; the board approved the audit report by unanimous voice vote.
Jamestown Public School District auditors presented a clean (unmodified) opinion on the district’s financial statements for the year ended June 30, 2024, and the school board voted to accept the audit report at its March 17 meeting.
The audit presentation came from Craig Hashberger of Widmerall, who told the board the audit included a single-audit under federal Uniform Guidance because the district exceeded the federal threshold for federal awards. Hashberger said the auditors tested Title I and “did not have any findings” on compliance.
Hashberger said the independent-auditor’s report covers the fiscal year ended June 30, 2024, and the opinion is unmodified, meaning the financial statements were free of material misstatements. He told the board the audit process produced 11 proposed adjustments to align the district’s records with generally accepted accounting principles and noted two material weaknesses that were communicated in the internal-control report.
One material weakness related to audit adjustments required to present the statements on a GAAP basis rather than the district’s day-to-day budgetary accounting. The second, described by Hashberger as likely a one-time issue, involved differences in reconciled cash balances tied largely to certificates of deposit; auditors and district staff proposed adjustments that resolved the discrepancy.
Hashberger said he was confident the cash issue had been fixed and would not be a recurring problem. He also noted the general-fund cash balance has been relatively stable in recent years and that the audit’s governmental-fund presentation shows the general fund had roughly $8–9 million on hand across recent years.
After the presentation, a motion to approve the audit report was made (motion by Jamie, second by Dan) and carried on a voice vote. The board thanked Widmerall for the work.
The audit package that the board received also contains an auditor communication letter and a separate internal-control report required under government auditing standards. Hashberger said the audit was conducted in accordance with those standards and that there were no reports of fraud or significant difficulties working with management.
The auditors remained available to answer follow-up questions, and the board directed staff to retain the audit package for the district record.
