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External auditors give Hobbs schools an unmodified opinion; board accepts audit and approves expenditures
Summary
Accounting and Financial Solutions presented the district’s fiscal 2023–24 audit; auditors issued an unmodified opinion noting a restatement under GASB 84 and two state-reporting findings. The board accepted the audit and approved routine expenditures and an individual scholarship fund transfer.
External auditors from Accounting and Financial Solutions presented Hobbs Municipal Schools’ fiscal year 2023–24 audit on Feb. 25 and delivered an unmodified (clean) opinion on the district’s financial statements.
Auditor Terry Ogle told the board the audit found the financial statements were not materially misstated and that the opinion is an unmodified opinion with no qualifications. The audit includes an emphasis of matter related to the application of GASB 84, which changed fiduciary reporting; the restatement tied largely to moving certain student-activity funds into special-revenue categories,…
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