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Rockdale audit: unmodified opinion, no findings; fund balance about $59.7 million as of Feb.
Summary
The district’s external auditor reported an unmodified (clean) opinion for the year ended June 30, 2024, with no audit findings. The superintendent’s finance team presented February preliminary financials showing a fund balance of $59,733,077 and year-to-date revenues and expenditures.
Ms. Pendergrass, the district’s external auditor, told the board the financial audit for the year ended June 30, 2024, resulted in an unmodified opinion and no audit findings.
The finding matters because an unmodified opinion is the highest standard in financial statement auditing and indicates the auditor found the district’s financial statements fairly presented in all material respects. The board received both the auditor’s discussion and analysis and the annual financial report during the March work session.
“We issued an unmodified opinion. That’s a clean opinion. That’s the best that you can get,” Ms. Pendergrass said, and she congratulated the board and management for having “no findings.” She also noted the district’s general fund balance was “about 6 and a half weeks of operations” and cautioned the board to consider future appropriations given timing of tax receipts and state-determined benefit costs.
In separate remarks, finance staff presented preliminary February financials. Chief finance presenter Ms. Smith reported month revenues of $10,700,000 and year-to-date revenues representing about 80.2% of the budget. Expenditures for the month were $17,500,000; year-to-date expenditures were approximately $143,900,000 (about 64.8% of budget). The district’s current fund balance was reported as $59,733,077; assets were $66,396,352 and liabilities $6,663,275.
Ms. Pendergrass also summarized the single-audit (federal compliance) testing: the auditor selected the special education and Striving Readers programs—about $6.8 million, roughly 22% of total federal expenditures—and found no compliance findings.
These audit and preliminary financial materials were presented for board review during the work session; no final appropriations or contract approvals were voted at the session. Board members were asked to review the February board minutes and submitted materials ahead of the regular meeting, when action items will be considered.
Ending: The board received the auditor’s clean opinion and preliminary financial reports at the March work session; staff said any formal approvals tied to the materials will appear on the regular session agenda.
