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Board approves 2023–24 audit after outside auditor flags accounting basis and two procedural findings
Summary
The Piedmont Board of Education voted unanimously to accept the 2023–24 audit from S&B CPAs. The auditor issued a qualified/adverse opinion tied to the district ccounting basis for fixed assets and recorded two findings that require corrective action to the state.
The Piedmont Board of Education unanimously approved the district'023 nd'024 fiscal-year audit after a presentation by Jay Estates of S&B CPAs.
Estates told the board the audit resulted in three opinion letters because the district met the federal "uniform guidance" threshold (more than $750,000 of federal funds). He said the financial statements were prepared on the state dministrative/regulatory (modified-cash) basis rather than on generally accepted accounting principles, and that difference led to a qualified/adverse presentation for general fixed assets.
The auditor reviewed headline figures…
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