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Auditor issues clean opinion on Caswell County Schools' 2024 financial statements, cites two control exceptions
Summary
External auditors gave Caswell County Schools a clean (unmodified) opinion for the fiscal year ending June 30, 2024, while noting two internal-control exceptions: year-end account reconciliations and an incorrectly recorded transfer between unrestricted and restricted funds.
An external audit of Caswell County Schools'financial statements for the year ended June 30, 2024, resulted in a clean, unmodified opinion, the district's auditor reported at the board meeting.
The auditor said, "we believe these financial statements accurately reflect the net position and the fund balance for Caswell County Schools as of 06/30/2024. It's considered a clean, unmodified opinion." The auditor also summarized fund balances and highlighted two findings in the compliance letters: (1) account reconciliations and (2) a reversed transfer that moved local (unrestricted) funds into federal (restricted) accounts when recording indirect-cost allocations.
At the meeting the auditor walked board members through…
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