Independent auditors give CHSD 128 a clean opinion; single-audit required after federal funding threshold met

At the Feb. 10 Facilities & Finance meeting, Betsy Allen, partner at Miller Cooper, presented the district's annual audit results and told the board the auditors issued a clean, unmodified opinion on the fiscal-year financial statements.

Allen said Illinois districts are required to have an independent annual audit and that the firm issues an annual comprehensive financial report (ACFR) and related required communications. She told trustees that because the district expended over $750,000 in federal awards, auditors performed a single audit under the Uniform Guidance.

Allen reviewed the ACFR sections — introductory, financial and statistical — and highlighted the management discussion and analysis, pension and OPEB disclosures, and multi-year schedules. She said two GASB pronouncements were effective this year but had no material impact on the statements. The auditing firm provided the district with required communications to the board and noted no unusual transactions or difficulties with management.

The auditors recorded one past adjustment related to transportation fuel costs and reiterated a recurring observation about technology and data-security risk as an area for continued monitoring; however, they did not issue a management letter for fiscal year 2024. Allen said the district received a financial profile score of 4 from the Illinois State Board calculation, the highest category, and that management signed required representation letters before filing.

Ending: The presentation concluded with auditors offering to answer questions; trustees praised the work of district staff and auditors in producing an orderly audit with no substantive findings affecting the opinion.