Woodstock CUSD 200 board accepts annual comprehensive financial report for 2024-25

The Woodstock CUSD 200 Board of Education voted to accept and place on file the districts Annual Comprehensive Financial Report (ACFR) for the 2024-25 school year following a presentation by the districts auditors.

Jeff Olson, identified in the meeting as the partner in charge of the audit for Adams Marshall and Peace, presented the audited materials and noted the district required a separate audit for certain grant programs because it spent more than $750,000 on eligible grant activity. After the presentation a motion to accept and place the ACFR on file was made and seconded; the board then conducted a roll-call vote and the motion was recorded as approved.

Why it matters: the ACFR is the districts formal, audited accounting of revenue and spending for the fiscal year. Accepting the ACFR places the audit into the public record and signals that the board has received the auditors findings.

Key details presented to the board included a brief review of the three major funds. Finance staff said the educational fund is showing standard seasonality: property tax revenues are roughly half collected for the year and overall expenditures were near the expected 25% mark for the point in the fiscal year reviewed. Staff attributed higher-than-normal local "other revenues" to a gain on the sale of the districts building trades house (about $38,000), E-rate reimbursements, and reimbursements from the regional office of education for summer camp costs.

Operations and maintenance expenditures were also near expected levels, with supplies and materials running higher early in the school year as custodial and operations staff prepared buildings. Staff said some capital outlay occurred early in the year, including installation of air-conditioning units, a fence, and concrete work.

On the transportation side, staff told the board that categorical transportation revenues had not posted by the Sept. 30 snapshot but that about $971,000 arrived in October; transportation salaries and repair costs were described as seasonal and consistent with typical early-year activity.

No formal findings of material misstatement or corrective actions were stated in the boards remarks in the transcript. The motion to accept the ACFR was seconded and approved by roll call; the transcript records board members responding in the affirmative during the vote but does not attach individual member names to each vote in the excerpt.

The board did not specify further follow-up actions in the recorded portion of the meeting.