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Independent audit finds no reportable findings but flags district fund deficit and borough reconciliation issues
Summary
Independent auditors issued an unmodified (clean) opinion on the Ketchikan Gateway Borough School District's FY2023–24 financial statements but highlighted a near‑term governmental funds deficit and a growing self‑insurance liability tied to the borough central treasury. Auditors and district staff said delays reconciling borough balances delayed
An independent audit of the Ketchikan Gateway Borough School District's fiscal year 2023–24 financial statements returned an unmodified opinion — the auditor's clean report — and found no reportable federal or state compliance findings. Grant Todd, partner at Altman Rogers & Company, told the board the audit found no internal-control exceptions in the sampled transactions and no federal or state program compliance findings.
Despite the clean opinion, the audit outlined material fiscal challenges. On a governmental-funds basis (the near‑term view of resources), the district reported an…
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