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Board approves 2024 financial and compliance audit reports; auditors found no material weaknesses
Summary
The Queen Creek Unified School District board voted to accept the fiscal year 2024 financial and compliance audit package. The district's finance staff and auditors reported no significant deficiencies or material weaknesses and identified the district as a low-risk auditee for federal funds.
Jessica Johnson, representing the district’s finance office, presented the fiscal year 2024 audit package and described the four components of the submission: the public annual financial report, the annual comprehensive financial report (ACFAR), the Uniform System of Financial Records (USFR) compliance questionnaire, and the single audit reporting package for federal grants. She told the board that school districts with an M&O budget above $2,000,000 are required to conduct an annual audit and that the district’s audit firm must be approved by the Auditor General’s office.
Johnson said the single-audit review covers federal programs that exceed $750,000 in annual awards and that the district received no significant deficiencies or material weaknesses in the financial statements or federal awards. "I'm happy to report that there were no significant deficiencies or material weaknesses identified within our financial statements or within our federal awards this past year," she said, and added that the results supported the district’s classification as a low-risk auditee.
Board members moved to accept the audit package. A motion to approve the fiscal year 2024 financial and compliance audit reports was made and seconded; the item was approved by roll call vote. The presenter said the acceptance would allow final submission of the reports to the Auditor General’s office, the Arizona Department of Education and other required entities.
The presentation included details on the district’s RFP process for selecting an audit firm, the timing of on-site audit work (multiple site visits in July and additional review in November), and how audit feedback is used to refine district procedures. Johnson noted the district has reduced noncompliant items identified in the compliance questionnaire over the last four years through internal process improvements.
No action beyond acceptance of the reports was taken at the meeting.
