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Committee accepts multiple clean audits, approves charter audit bundle and appoints ABAC member to RFP selection panel
Summary
The committee reviewed and accepted clean audit opinions for WLRN, the Foundation of New Education Initiatives and MECCA; it approved audited financial statements for 50 charter schools and reissued an RFP for a program audit, naming an ABAC member to the selection committee.
The Audit and Budget Advisory Committee received multiple audit presentations and approved several action items, including audited financial statements for WLRN (the district‑licensed broadcast operations), a district foundation, a magnet association and 50 charter‑school audits.
WLRN: John Goodman introduced a presentation by auditors Anthony Brunson and Leslie Harden outlining an unmodified (clean) opinion on WLRN’s financial statements. The auditors reported a strong net asset position (report notes cited net assets exceeding $10.6 million) and capital asset purchases of roughly $601,000 in the year under review. Committee members asked for the presentation materials to be circulated to members; the committee approved the item unanimously.
Foundation of New Education Initiatives: Octavio Verdeja and Manny Alvarez presented a clean audit with no material weaknesses and a small surplus for the year (Alvarez reported total revenues of $5.4 million, total expenses of $5.2 million and a change in net assets of approximately $150,000). The committee approved the audit unanimously.
MECCA (Magnet Educational Choice Association): Juliana Delmas of HLB Gravier presented an unmodified audit opinion, noting cash and short‑term investments as the largest balance sheet items and that donor‑restricted funds predominated. The audit showed an improved net asset position; the committee approved the report unanimously.
Charter schools: Michael Hernandez presented audited financial statements for 50 charter schools for the fiscal year ended June 30, 2024. Hernandez said 44 of the 50 had no significant fiscal issues; six schools showed either deficits or management‑letter findings, but none met the statutory threshold for a financial emergency. The committee approved the charter audit bundle unanimously.
RFP and selection committee: The committee also discussed an externally conducted end‑of‑program audit RFP that was reissued after a previous contract termination. The committee nominated and unanimously approved ABAC member Hunter Johnson to serve on the selection committee for the external auditor to perform the end‑of‑program audit.
Votes at a glance: each audit presentation and the charter bundle were treated as action items and passed unanimously. The nomination of Hunter Johnson to the RFP selection committee passed unanimously.
Ending: Auditors and presenters remained available to answer follow‑up questions; committee members asked staff to circulate presentation slides and supporting audited financial statements to ABAC members.
