Spearfish School Board accepts FY2024 audit; auditor reports four findings, clean opinion

The Spearfish School District 40-2 School Board voted Jan. 13 to accept the district's fiscal year 2024 audit and the related federal compliance audit.

The audit partner, identified in the meeting as Jeff from the firm Cadle Thorsten, told the board the financial statements carried an unmodified opinion and the compliance audit of federal programs — triggered because the district spends more than $750,000 in federal funds — also resulted in an unmodified (clean) compliance opinion.

Jeff said the audit produced four findings: that the auditor prepared the district's financial statements (financial statement preparation); audit adjustments identified by the auditors; an issue related to driver's education; and a compliance finding concerning semiannual certifications. He told the board the latter two items were already addressed or in progress and characterized the first two as repeat findings that have occurred for about a decade. The auditor said he would send the representation letter to the district.

Board members moved and seconded acceptance of the audit, and the board approved the report by roll call (Allen — yes; Fred — yes; Eric — yes; Nathan — yes; Alicia — yes). The board president announced the audit report had passed.

The board did not direct additional immediate action during the meeting beyond accepting the report and receiving the auditor's summary. The auditor noted the separate compliance audit had reviewed the special education program and ESSER (Elementary and Secondary School Emergency Relief) funding.

The accepted audit and the auditor's rep letter will be part of the district record and used for financial reporting and state/federal compliance documentation.

The auditor invited questions and then left the meeting after the board's formal acceptance. The board moved on to other agenda items.