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Auditors: Federal shutdown delays Cloquet single audit; district to split reports, issue financial statements first
Summary
The Cloquet Public School District heard on Oct. 27 that a federal government shutdown has delayed the district’s federally required “single audit,” forcing auditors to split the audit work and issue the financial-statement report before the federal single-audit can be completed.
The Cloquet Public School District heard on Oct. 27 that a federal government shutdown has delayed the district’s federally required “single audit,” forcing auditors to split the audit work and issue the financial-statement report before the federal single-audit can be completed.
Business Manager Candice Nellis told the school board the district exceeds the $750,000 threshold in federal funds that triggers a single audit. “Because we have more than $750,000 in federal dollars that come through our district, we have to do what’s called a single audit on our federal dollars,” she said.
Luke Graden, a principal auditor with CLA, told the board the firm is close to finishing the district’s financial-statement audit but cannot issue the…
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