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Audit: Southeast Polk issues unmodified opinion but repeats internal-control weaknesses; federal programs tested with no findings
Summary
External auditors issued an unmodified opinion on the district's FY2024 financial statements but repeated material weaknesses over bank reconciliations and reported the FY2023 audit was delayed. Federal program testing found no findings for Child Nutrition and Title I.
Auditors from Bonsack & Fromelt presented the district’s 06/30/2024 audit to the Southeast Polk Community School District board, reporting an unmodified opinion on the financial statements but repeating material weaknesses in internal controls related to bank reconciliations.
Mia Fromelt, the presenting auditor, told the board the district expended "6,700,000.0 in federal awards for fiscal year 24," with Child Nutrition representing "3,100,000.0," ESSER representing "1,400,000.0," and Title I representing "1,100,000.0." She said ESSER funding has expired and federal dollars should be expected to decline going forward.
Fromelt reported three audit deliverables:…
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