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Homewood SD 153 board accepts FY24 audit after auditor issues clean opinion
Summary
The Homewood School District 153 Board of Education accepted the fiscal year 2024 audit after auditor Jennifer Decker reported an unmodified (clean) opinion and noted increases in net position and fund balances; the board voted unanimously to accept the report.
The Homewood School District 153 Board of Education voted to accept the district's fiscal year 2024 audit after the auditor reported an unmodified, or "clean," opinion.
Jennifer Decker, an auditor with Whitley, presented the audit and told the board, "We issued an unmodified opinion on the audit for this year, which is a clean opinion, which means it complied with all the auditing standards." The board accepted the audit by roll call vote.
The audit shows the district's net position rose by about $2,700,000 and the districtwide fund balance increased by roughly $1,200,000, Decker said. She also noted the district's general fund components'the education fund, operations and maintenance, and working cash'totaled about $7,000,000 at year end, approximately 19% of the year's expenditures. Decker said the lower-than-expected ratio was in part because the county had not yet delivered the second installment of property taxes.
Decker described details contained in the report, including notes on capital assets, long-term debt, retirement and OPEB (other post-employment benefits) footnotes, and a 10-year history of property tax collections. She told the board the district had "sufficient controls in place" and said the auditors had no internal control suggestions for improvement.
Board President (name not specified in the transcript) and Superintendent Dr. McAllister thanked district staff; Decker singled out "Eric and his team" for assistance during the audit. Decker said the audit will be posted on the district website and is available through the Illinois State Board of Education.
Votes at a glance: The board voted to accept the FY24 audit; the motion carried on a unanimous roll call vote.
The district will publish the complete audit and accompanying notes in the business/financial reports section of its website and the report is also available through the Illinois State Board of Education's public records.
Ending: With acceptance of the audit, the board moved on to other agenda items including consent agenda approvals and action items.
