Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditors report Winslow Township School District had operating surplus; single food-service compliance finding noted
Summary
External auditors presented the district's 2023-24 financial statements and noted a $3.6 million operating surplus, large capital-reserve movements and one audit finding: the food-service fund exceeded the Department of Agriculture's three-month cash limit by about $450,000.
Boeing Company auditors presented the Winslow Township School District's audit for the year ended June 30, 2024, to the Board of Education on Jan. 29, saying the financial statements and required reports were submitted to the New Jersey Department of Education before the Jan. 15 filing deadline.
The audit presentation showed the district had an operating surplus of approximately $3,600,000 and reported extensive capital-reserve activity: a $14,000,000 withdrawal from capital reserve for projects during the year, a June transfer into capital reserve of $15,000,000, and $1,900,000 moved back into capital reserve from completed capital projects. The net result increased the district's capital reserve by about $2,500,000, the auditors said.
The auditors also reported…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
