Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Casa Grande Elementary board accepts FY2024 audit after presentation showing 98% USFR compliance
Summary
The Casa Grande Elementary School District governing board voted unanimously to accept the district's fiscal year 2024 financial and compliance audit after a presentation showing an unmodified opinion and a 98% compliance rating on the USFR questionnaire; auditors noted four immaterial findings.
The Casa Grande Elementary School District governing board unanimously accepted the district's financial and compliance audit for the fiscal year ending June 30, 2024, after the district's auditor presented the results during the Jan. 28 meeting.
The audit presentation, led by the auditor identified in the meeting as Miss Blomquist, said the district received an unmodified (clean) opinion in its annual comprehensive financial report and scored 98% on the Uniform System of Financial Records (USFR) compliance questionnaire, compliant in 167 of 171 tested fields. Blomquist identified four immaterial findings that the district is addressing, including missing credit-card authorization documentation, a finance charge, untimely school-site deposits and a partial-day attendance calculation that required an adjustment.
The audit matters are significant to the district because audited financial statements and the USFR questionnaire are used by oversight agencies, bond rating entities and the public to assess fiscal health and legal compliance, Superintendent Doctor Lecky said before the presentation. Blomquist noted that the district's reports are routinely submitted to oversight agencies including the Arizona Department of Education, the county superintendent and the Office of the Auditor General, and that the district has received awards for excellence in financial reporting for more than 10 years.
During board discussion, board member Mr. Stable asked for clarification about the items labeled as "significant risks" in the packet; Blomquist and district staff explained that the items summarized in the cover letter and presentation were limited to timing of revenue recognition and accounting estimates for capital-asset useful lives and that the USFR findings presented to the board were immaterial and being remediated, including a capital-assets consultant engaged to assist with fixed-asset records.
Votes at a glance
- Agenda adoption (Item 2.01): Motion to adopt the meeting agenda as presented. Outcome: Approved by roll call, 5-0. - Consent agenda (Item 7.01): Motion to approve the consent agenda. Outcome: Approved by roll call, 5-0. - Financial and compliance audit (Item 9.01): Motion to accept the FY2024 financial and compliance audit package and related reports. Outcome: Approved by roll call, 5-0.
The board's roll-call approval of the audit fulfills the statutory requirement that governing boards publicly accept audits and USFR questionnaires; Blomquist referenced Arizona Revised Statute requirements discussed during the presentation (see authorities). The superintendent and board members praised the finance team's work in producing the report and noted the audit will inform resource allocations going forward.
The board scheduled its next regular meeting for March 11 at 6 p.m. in the same board room.
