Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
D20 posts clean audit; board votes to accept audit and redeem Series 2015 bonds early
Summary
An independent auditor delivered an unmodified opinion with no findings; the board unanimously accepted the ACFR and approved early redemption of Series 2015 refunding bonds to save ~$342,000 in interest. Bond fund and encumbrance updates were also presented.
CliftonLarsonAllen presented Academy School District 20’s annual comprehensive financial report for fiscal year 2024–25 and issued an unmodified, or “clean,” opinion with no material weaknesses, significant deficiencies or corrected audit adjustments. Auditor Sam Helwich told the board the result is rare for a district of this size and commended district finance staff for their work.
Following the audit presentation the board unanimously approved Resolution 311‑25 accepting the audit report. Executive Director for Business Services Kathy Watts and Deputy CFO Becky Allen were publicly thanked for managing a $600M+ budget without audit findings.
The board then considered a debt-management motion to redeem and discharge a series of 2015 general obligation refunding bonds. Staff explained the bonds had reached a callable point and early payoff would reduce future interest costs; approving the redemption was projected to save taxpayers approximately $342,000 in interest. The board approved Resolution 312‑25 by roll call.
Bond oversight reports and the Citizens Bond Oversight Committee provided monthly updates: the 2016 bond fund was reported at about 99.17% spent with $2.29 million unencumbered as of Sept. 30, 2025; the 2024 bond program had spent roughly 8.7% of funds as of the same date, with recent activity including turf and HVAC work and other capital projects. The committee chair noted interest earnings and month-to-month variances in encumbrances and expenditures.
