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Phoenix-Talent audit shows unmodified opinion; finance staff warn district relies on short-term ADM security funding
Summary
The district’s external auditors issued an unmodified audit opinion and classified the district as low-risk; finance staff reported an estimated ending general-fund balance of $8.5 million but said that without a one-time ADM security grant the district would face a multimillion-dollar deficit.
Phoenix-Talent School District staff presented the annual audit and financial reports at the board meeting (date not specified), and external auditors issued an unmodified opinion on the district’s financial statements.
The nut of the discussion: auditors found no material weaknesses and gave the district an unmodified (clean) audit opinion; at the same time district finance staff warned the board that the district’s current general-fund position depends on one-time grant funding and that the operating balance would be in…
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