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External auditor gives Chisago Lakes a clean opinion; board approves annual audit
Summary
Audit partner Justin Nelson presented an unmodified (clean) audit opinion for fiscal year 2023–24 and a required single audit; the board approved the annual audit and heard two minor compliance findings.
The Chisago Lakes School Board on Dec. 19 received an external audit for fiscal year 2023–24 from Justin Nelson, a partner at Abdo, and approved the audit on a voice vote.
Nelson told the board the auditors issued an unmodified, or “clean,” opinion on the district’s financial statements and an unmodified opinion on the single audit required because federal expenditures exceeded the $750,000 single‑audit threshold. Nelson said auditors tested payments, payroll, grant transactions, and other controls and issued no internal‑control findings.
Nelson identified two compliance findings. The first concerned student activity accounts: the Minnesota Activities Manual requires that activity forms include instructions for disposal of remaining balances if an activity ends; some forms lacked that language. Nelson called it an item to correct for future periods. The second finding involved collateral coverage: a district bank account exceeded FDIC insurance by roughly $10,000, leaving a small potential exposure if a bank failed.
“We did issue an unmodified clean opinion,” Nelson said. He described the student‑activity language issue as procedural and the collateral observation as minor.
Robin Bostford Dorgerson, the district’s director of business services, told the board the student‑activity form was corrected and the district will close or adjust the lightly used bank account to keep collateral within insured limits.
On budget results, Nelson said the district had planned a use of fund balance of about $600,000 for 2023–24 but closed the year with an increase in fund balance of about $1.3 million; expenditures were about $2.3 million under budget. Nelson and district staff noted the district’s unassigned general‑fund balance is nearing the board’s 7%–10% policy target.
After Nelson’s presentation, a board member moved to approve the annual audit; the motion passed unanimously on a voice vote.
The board recorded no internal‑control deficiencies and committed to staff follow‑up on the two minor compliance items identified by the auditors.
