Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance Audit topic
No spam. Unsubscribe anytime.
Auditors give Salt Lake City School District an unmodified opinion; financial highlights and budget variances noted
Summary
Squire & Company presented its independent audit of the Salt Lake City School District’s financial statements for the year ending June 30, 2024, reporting unmodified opinions on the financial statements, federal program testing and state compliance.
Squire & Company auditors reported an unmodified (clean) opinion on the Salt Lake City School District’s audited financial statements for the year ended June 30, 2024, and issued unmodified compliance findings on the federal programs and state compliance testing presented to the board Jan. 7.
Dave Brown and a colleague from Squire summarized their work to the full board after presenting to the board finance committee in November. They told members they had issued an unmodified opinion on the financial statements and that their single-audit testing of federal programs — specifically the child nutrition cluster and the Education Stabilization Fund (COVID-related) — also produced unmodified findings. The auditors said their state programs audit likewise resulted in an unmodified opinion.
Business administrator Alan (Kearsley) and auditors walked the board through highlighted figures in the management’s discussion and analysis and the budget-to-actual fund statements. The auditors pointed to government-wide statement totals and explained that government-wide “expenses” for 2024 were presented at about $374 million versus about $359.7 million in 2023 (government-wide presentation). On a budgetary basis, management reported actual general-fund revenues of $303,753,753 for the year compared with a final budget of roughly $307 million. The auditors and staff noted final budgeted expenditures were $317,921,000 and reported actual general-fund expenditures of about $295,000,000 for the year; staff said timing of federal and state program spending often accounts for year-to-year differences between budget and actual amounts.
The auditors also noted a modest increase in enrollment reported in the MD&A of 174 students for the year and offered to meet individually with board members (especially new members) to review the 100+-page ACFR. Board members asked where to find specific budget-to-actual exhibits and the auditors directed them to the general fund budgetary statement (document page numbers given in the presentation).
