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South Lane School District board accepts FY2023 audit with clean opinion
Summary
PolyRogers presented a clean audit for South Lane School District’s 2023 fiscal year; the board voted unanimously to accept the audit after brief discussion of GASB 96, bank reconciliations and suggested best practices.
PolyRogers presented a clean audit of South Lane School District’s financial statements for the year ended June 30, 2023, and the school board voted unanimously to accept the report.
Timothy Lamont, an audit supervisor at PolyRogers, told the board the firm issued a clean opinion with no significant deficiencies or findings. Lamont said the audit team and district chose not to implement GASB 96 (subscription services) for this audit year because listing every subscription would add pages without material benefit. He also noted two bank reconciliations were not reviewed within 60 days and listed IT and insurance as routine best-practice recommendations.
"We issued a clean opinion with no reservations," Lamont said during the presentation.
The board briefly discussed the audit letter and then moved to accept the document and the board letter as presented; the motion was seconded and approved by voice vote with all members saying "aye." Board members emphasized the clean opinion and asked staff to consider the listed best practices.
The audit presentation also reminded the board that South Lane had a single audit because the district spent more than the single-audit threshold on federal awards. Lamont explained that the single-audit procedures review compliance for federal grants.
The board’s acceptance of the audit concludes the formal review of FY2023 financial statements; staff and auditors said they will continue working on recommended practices and any necessary follow-up items such as timely bank-reconciliation review.
