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Oak Grove audit shows clean opinions but warns reserve ratio fell to about 12.6%
Summary
The districtaudit presented by Westbrook & Company gave unmodified opinions on financial statements and federal awards but highlighted a drop in reserves (about 21% in 2022 to 12.6% now) and an operating funds deficit of roughly $628,000; auditors said the federal single-audit remains a draft while compliance supplements are pending.
Brad Steele of Westbrook & Company told the Oak Grove R-VI school board that auditors issued unmodified opinions on the district—s financial statements and federal awards but could not complete the federal single-audit until the U.S. government issues its annual compliance supplement. "The draft doesn't have hardly any changes," Steele said, adding that none of the dollar figures in the audit are expected to change.
The audit showed the district's reserve ratio fell from about 21% in 2022 to 12.6% in the…
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