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Dover Area SD auditors issue clean opinions on 2024 financial statements and federal programs
Summary
Auditors from Warren Ritter presented the district's annual audit, reporting unmodified (clean) opinions on the financial statements, internal controls and compliance for Title I and IDEA federal programs; the general fund ending balance fell about $800,000 to roughly $16.4 million for year ending June 30, 2024.
Sanai Zikharovich, an auditor with Warren Ritter, told the Dover Area School District Board that the firm issued unmodified (clean) opinions on the district's year-ending June 30, 2024, financial statements and related reports.
Zikharovich said the audit produced three independent auditor opinions: an opinion on the financial statements, a report on internal controls over financial reporting and a report on compliance for the federal major programs the auditors tested. "We provide an unmodified opinion," Zikharovich said, and summarized the package as showing no material weaknesses or significant deficiencies identified by the auditors.
The presentation covered the district's fund structure and key figures. Zikharovich highlighted the General Fund ending balance of about $16,400,000 for 2024, down by roughly $800,000 from the prior year, and the Capital Reserve fund cash and investments of about $7,500,000. The auditors also noted the district's cash and cash equivalents at about $27,000,000 and referenced bonds and notes payable associated with four outstanding bond issuances. The firm reported that the district met federal single-audit thresholds this year and that Title I and IDEA programs were selected for compliance testing.
Zikharovich described the audit process as planning, execution and reporting, including confirmations with third parties, testing supporting documentation and working with district management to compile the reporting package. She pointed the board to the management's discussion and analysis and budget-to-actual schedules in the financial report for more detail.
Board members had no questions for the auditor after the presentation. Zikharovich thanked district staff for cooperation during the audit and left her contact information for follow-up questions.
The audit report and the accompanying management comments and required communications letters were provided to the board; Zikharovich said there were no uncorrected misstatements, no disagreements with management and no significant difficulties encountered during the engagement.
