Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditors give Racine Unified a clean opinion; board briefed on borrowing plan, defeasance and early project procurements
Summary
CliftonLarsonAllen issued a clean audit opinion for Racine Unified’s fiscal year ended June 30, 2024, and district financial advisers briefed the board on a planned borrowing program tied to the facilities referendum, including a parameters resolution, a defeasance plan and several early procurement requests.
CliftonLarsonAllen auditors told the Racine Unified School District Board of Education that the district’s financial statements for the year ended June 30, 2024, were presented fairly in all material respects, a “clean” opinion the auditor described as the firm’s strongest form of assurance.
Erica Schaeffer of CliftonLarsonAllen summarized the audit and supplemental schedules, noting the district’s unassigned general fund balance stood at roughly $64 million (about 24% of budgeted expenditures), above the board’s 15–20% target. The auditor said the district qualified for a single-audit because of federal funding levels; the auditors tested the child nutrition and Medicaid clusters and reported no findings that rose to reportable levels.
Following the audit presentation, the district’s finance team and municipal advisors reviewed borrowing plans tied to the facilities referendum. Bond counsel and advisors described a…
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
