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Clean audit, midyear forecast show small projected balance; nutrition fund and maintenance costs flagged
Summary
Auditors issued a clean opinion for Bedford County and the school division; second-quarter forecasts project revenue and expenditure variances, with the nutrition fund showing a midyear shortfall and maintenance and HVAC projects highlighted in the capital plan.
The Bedford County School Board received a slate of financial reports and audit documents at its Feb. 13 meeting, including a clean audit opinion for county and school financials, a midyear budget forecast that projects the operating fund will end the year close to budget, and staff warnings about the nutrition fund and maintenance costs.
Mister Hagler reported the external audit was completed in December and yielded no findings. Documents posted with the agenda included the auditors’ opinion letter, internal control comments, required communications and the annual comprehensive financial report covering county and school data.
Hagler presented a second-quarter forecast (data as of Dec. 31) that projects roughly $124,000…
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