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Independent audit clean; district outlines tight cash flow, TAN payoff and enrollment risks
Summary
Municipal auditors issued an unmodified (clean) opinion on the Silver Falls School District's 2023-24 financial statements. District staff reported the tax anticipation note was paid in December, highlighted improved cash management and warned that state school fund rebalancing and enrollment declines could reduce next-year revenues.
Auditors from the firm Polly Rogers & Co. (lead auditor Kenny Allen) delivered an unmodified opinion on Silver Falls School District's fiscal-year 2023-24 financial statements. Allen told the board the audit found no material noncompliance in the Oregon minimum standards procedures or in major federal programs subject to Single Audit requirements.
District business officials reported several key finance items to trustees:
- The district paid off the tax anticipation note (TAN) in December; a final principal payment of about $3.805 million and interest of roughly $98,000…
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