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Auditors issue clean opinion on St. Francis Area Schools’ 2024 financial statements; two material weaknesses noted
Summary
Independent auditors issued an unmodified (clean) opinion on the district’s fiscal 2024 financial statements but reported two material weaknesses — segregation of duties and cash-receipts processes — and recommended procedural improvements; board accepted the audit.
The district’s independent auditors presented the fiscal 2024 comprehensive annual financial report and management report to the board and issued an unmodified (clean) opinion on the basic financial statements for the year ending June 30, 2024.
Nelson from the audit firm (partner in charge) told the board the district’s financial statements were fairly stated and the audit included additional reporting required by recently updated government accounting standards. The auditors also reported two material weaknesses identified during the audit:…
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