Auditors give Chesterfield schools a clean 2023–24 opinion; note one prior-period error

External auditors from Malden & Jenkins presented the Chesterfield County School District—s 2023–24 financial audit at the Jan. 13 board meeting, issuing an unmodified (clean) opinion on the district—s financial statements and on its major federal programs.

Brian Nicholson, engagement director, told the board the audit was conducted in accordance with generally accepted auditing standards and government auditing standards and that the June 30, 2024 financial statements "present fairly in accordance with GAAP." The auditors also issued an unmodified single-audit opinion on the district's federal major programs, having tested the special education cluster (about $2.2 million) and ESSER (about $13.2 million), with no material weaknesses or significant deficiencies reported for the single audit.

Auditors documented one material weakness in internal control linked to a correction of an error in the June 30, 2023 financial statements; that finding appears in the Schedule of Findings and is referenced in the financial statement document. Nicholson said the district anticipates the issue will be corrected in the June 30, 2025 financial reporting cycle.

The presentation included a five-year look at the general fund fund balance: as of June 30, 2024 the general fund balance was approximately $12.9 million, with about $10.8 million unassigned — roughly 14.4% of general fund expenditures, above the state minimum guideline of one month (about 8.3%). Auditors described recently implemented accounting standard GASB Statement 100 (accounting changes and error corrections) and noted the district will implement GASB Statement 101 next year (compensated absences).

Board members asked no substantive follow-up questions during the audit presentation; auditors thanked district finance and administrative staff for cooperation during the process.