Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Audit topic
No spam. Unsubscribe anytime.
Board receives unmodified audit; accepts 2023–24 financial statements
Summary
External auditors presented an unmodified opinion on the district’s 2023–24 financial statements; board accepted the audit after auditors noted a $707,000 decrease in general fund balance and three funds over budget.
The Fort Atkinson School Board received the district’s 2023–24 financial statement audit on March 20 and voted to accept the audit report after a presentation by the district’s external auditors.
Brad Porter, the principal auditor from Lauterbach & Amen LLP, told the board the audit resulted in an unmodified opinion for the fiscal year ended June 30, 2024. "For the fiscal year ended 06/30/2024, we have issued what is known as an unmodified opinion," Porter said, describing it as the cleanest form of opinion in the government space.
Porter reviewed key figures: the general fund experienced a net decrease in fund balance of about $707,000 for fiscal 2024, leaving an accumulated fund balance of roughly $13,700,000 and about 3.8 months of reserves in unassigned general fund balance. He also said the management letter included one prior recommendation relating to funds that exceeded budget; "there were only three funds that had exceeded budget in fiscal year 20 24," Porter told the board.
Nathan Knitt, director of business services, introduced the auditors and was present to respond to questions. Porter described the audit process and timing, said the district had no current internal control recommendations for fiscal 2024 and answered board questions about fund‑balance policy and the auditors’ role.
After the presentation the board passed a resolution to accept the audit report as presented by Lauterbach & Amen LLP. The roll call vote as recorded: Ms. Sully — yes; Ms. Reynolds — yes; Mr. Loupe — yes; Mr. Rogers — yes; Mr. Nickram — yes. The board also was told the district’s unassigned fund balance provides several months of reserves, and that future budget monitoring will continue to be important.
