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External audit issues unmodified opinion; auditors note two material weaknesses in internal control
Summary
Independent auditors issued an unmodified opinion on the district's 2024 financial statements, reported 26 proposed audit adjustments and two material weaknesses related to account reconciliations and drafting financial statements; single-audit testing of federal programs found no material weaknesses.
Devin Paff, partner at KC Peterson LTD, presented the district's fiscal-year 2024 audit results to the Rapid City Area School District board, saying auditors issued an unmodified (clean) opinion on the financial statements.
Paff said the audit identified 26 proposed adjustments across several areas and two material weaknesses tied to internal controls over account reconciliations…
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