School Bond Authority approves risk assessment; audit finds no issues

The School Bond Authority on June 23 approved the Office of State Government Financemanagement risk assessment and received an informational audit report showing no findings.

Chairman opened the brief meeting at 3:14 p.m., moved to approve the minutes and then introduced Mister Del Conte, who presented the management risk assessment for the Office of State Government Finance. "As it has been in the past, it's very well documented. It's thorough. I believe it's 12 pages of identified risks and mitigating controls," Del Conte said, adding that the office's testing "found that all of the controls were operating effectively." The authority voted to approve the assessment.

Del Conte also summarized the financial and compliance audit report for the School Bond Authority for the fiscal year ended June 30, 2024. He told members the audit was issued in December 2024, carried an unmodified opinion and contained no audit findings, meaning the financial statements were "presented fairly in all material respects," he said. The authority did not take formal action on the audit; members received the report as informational.

Chairman congratulated Miss Thompson and staff from the Office of State Government Finance for the result; Thompson credited the office team for the work. The chairman noted a certificate from the Government Finance Officers Association and asked that it be put on paper for framing. The meeting ended after routine business with a motion to adjourn.

The actions taken at the meeting were limited to approving the minutes and approving the management risk assessment; the audit report was accepted as information and required no further action.