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Auditor issues clean opinion; Little Falls board approves 2024 audit and revised 2024–25 budget
Summary
External auditors gave Little Falls an unmodified (clean) opinion for the fiscal year ending June 30, 2024 and identified several compliance items; the board approved the audit and later adopted a revised 2024–25 general fund budget with updated revenue and expenditure estimates.
External auditors told the Little Falls Board of Education on Feb. 10 that the district's 2023–24 financial statements received an unmodified (clean) opinion, a marked improvement from the prior year's modified opinion, and the board voted to accept the audit.
John Archer, partner at Schleiner, Winder & Company, presented the audit and summarized the firm's findings. Archer said the auditors were able to issue an unmodified opinion because issues that produced last year's modified opinion (bank reconciliation irregularities) were resolved for 2024. He thanked district staff for responsiveness during the audit and said there were no unusual or fraudulent transactions identified.
The audit included three compliance findings the auditors considered noteworthy: - UFAR reporting and late submission: Uniform Financial Accounting and Reporting (UFAR) submissions to the Minnesota Department of Education were late; part of the issue stemmed from last year's late upload of opening numbers to MDE, which generated reconciliation errors carried into this year's audit. Archer characterized the remaining UFAR errors as a one‑time carryover from last year's delayed submission. - Prompt payment of bills: Minnesota…
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