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Ontario SD 8C board approves 2023–24 financial audit after auditors note three findings
Summary
Board accepted the 2023–24 audit, which identified three findings tied to prior-year reporting, trial-balance cutoff dates and a $2,400 federal grant posting error; the district says it will adopt procedural fixes and continue with a new audit firm.
The Ontario SD 8C School District board approved the 2023–24 financial audit during its regular meeting, accepting an audit report that included three formal findings and a district plan of action to address them.
District business staff told the board the audit identified: (1) a construction-in-progress amount from the 2022–23 year that was omitted from that year’s summary and required an adjustment; (2) timing and cutoff issues in the accounting trial balance, because some invoices for services performed before June 30 were recorded after that date; and (3) a $2,400…
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