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Rock Hill auditors give unmodified opinion on FY2023-24; trustees press district on fund balance, ESSER spending and capital reserves
Summary
Rock Hill Schools' external auditor presented an unmodified audit opinion for the fiscal year ended June 30, 2024, and district financial staff outlined fund balances, ESSER spending and capital reserves during the Jan. 14 board meeting.
Rock Hill Schools' external auditor presented an unmodified audit opinion for the fiscal year ended June 30, 2024, and district financial staff outlined why the district's fund balance grew during the year and where restricted funds are held.
Andrew Coleman, auditor with Greenfinity & Coley, told trustees on Jan. 14 that the audit provides "reasonable assurance" that the district's financial statements are materially correct; he emphasized that the audit does not guarantee the district's financial condition and noted one finding in the single-audit procurement testing tied to federal procurement exemptions. Coleman said the district had no material weaknesses in internal control related to the financial statements.
CFO Terry Smith summarized key figures: total governmental fund balance was about $53.5 million at June 30, 2024; the unassigned fund…
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