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Independent auditors give Gateway School District an unmodified opinion on 2023–24 financial statements
Summary
Auditors from Z and A LLC reported an unmodified opinion on Gateway School District's fiscal year ended June 2024 financial statements and on the district's single audit; no current-year findings were reported.
Carly Short, manager and auditor with Z and A LLC, told the Gateway School District board that the independent auditors' report for the year ended June 2024 contained an unmodified opinion.
Short said, "we expressed an unmodified opinion, which would is the highest level of assurance, and that's a good thing." The auditors also reported an unmodified opinion on the district's single audit of federal programs.
The auditors told the board the basic financial statements and related notes are in the packet. Short summarized where readers can find the management's discussion and analysis, fund financial statements, notes and required supplementary information. Jared Ewing of Z and A LLC opened the presentation and thanked the district for the engagement before turning the review to Short.
Short said the auditors tested major federal programs including Title I (grants to local educational agencies), IDEA (special education), and Title II (teacher quality). The auditors found no new findings in the schedule of findings and questioned costs for 2023'24, and the board packet shows the prior-year finding related to IDEA reporting was resolved this year.
The auditors noted the notes to the financial statements were "very similar to prior year" and that there were no new accounting standards affecting the district's statements for the year.
Board members did not take formal action on the audit presentation at the meeting; the auditors invited board members to contact them with follow-up questions.
The presentation covered where to find the statement of net position, statements of activities, governmental fund balance sheets, the food-service fund statements and the schedule of expenditures of federal awards in the board packet. The auditors also pointed trustees to the single-audit compliance reports and the required supplementary information that includes the general fund budget-to-actual and pension/OPEB schedules.
The board thanked the auditors and moved on to other business.
