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Grain Valley R‑V audit receives clean opinion; single‑audit report remains a draft pending OMB guidance
Summary
District auditors delivered a clean opinion on the 2023–24 financial statements but said the single‑audit report must remain in draft until the federal OMB data‑compliance supplement is finalized. Auditors highlighted falling reserve ratios, a $527,000 food‑service loss and roughly $31 million in fund balances across funds.
Bria n Eckoff, an auditor with Westbrook and Company, told the Grain Valley R‑V School District board at its workshop that the district's financial statements received an unmodified (clean) opinion but that the single‑audit report must remain stamped as a draft until the Office of Management and Budget finalizes its annual data compliance supplement.
Eckoff said the district's audited statement of activities shows the district recorded about $73 million in revenues and $94 million in expenditures for the year, with an overall decrease in fund balances of nearly $12 million. He said food service operations cost the district about $527,000 this year, while community services were approximately breakeven at $17,000.
The auditors reported about $31 million combined across the district's four major funds as of June 30: nearly $14 million in the general…
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