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Auditor gives Anderson 5 an unmodified opinion; fund balances, procurement and school‑level risks discussed
Summary
External auditor presented the fiscal year 2024 audit and procurement review to the Anderson School District 5 board, issuing an unmodified opinion, reporting a $38.4 million general fund balance, no procurement findings, and recommending attention to school‑level activity accounts and booster clubs.
An external audit presentation to the Anderson School District 5 Board of Trustees summarized the district’s FY24 financial results, procurement review and internal‑control observations and concluded with an unmodified (clean) audit opinion.
Audit partner Ken Meadows (Greene County audit engagement) told trustees the district received an unmodified opinion for the financial statements and highlighted a general fund fund balance decrease of about $3.5 million to $38.4 million at year end. Meadows said the unassigned fund balance represented about 26% of actual expenditures — roughly three months of operating expenses — above the Government Finance Officers Association (GFOA) recommended minimum of about 16.7%.
Revenues for the general fund totaled roughly $151 million for the year, with approximately $87 million from the state and about $58.6 million from property taxes. Expenditures rose…
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