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Dallas SD 2 receives clean audit for fiscal year ending 06/30/2024; single‑audit required for federal awards
Summary
The district's auditors from Umco Valley Financial delivered a clean opinion on fiscal‑year 2023–24 statements, reported no material internal‑control deficiencies for federal programs, and noted the district ended the year with a fund balance roughly in line with the 2024–25 budget projection.
Steve, the principal auditor for Umco Valley Financial, presented the independent auditor’s report for the fiscal year ending June 30, 2024, and told the Dallas SD 2 board that the financial statements are presented "fairly in all material respects." He described the audit process, internal‑control testing and the single‑audit procedures required because the district’s federal expenditures exceed the $750,000 threshold.
"The good news is clean audit report," Steve said, noting no significant deficiencies in internal controls for the fiscal reporting period and no material noncompliance issues in the federal programs reviewed. He said the firm examined the schedule of expenditures of federal awards (SEFA) and major programs and found the district’s accounting and grant management to be in good condition.
On the general fund, Steve said expenditures were under budget by about $1,300,000 and that the ending fund balance was approximately $2,000,003.53, close to the budgeted beginning balance for 2024–25. He recommended the board consider additional monitoring of reconciliations and balance‑sheet reviews as cost‑effective internal‑control improvements.
Board members thanked the auditor and asked that the district superintendent and finance staff consider the suggested controls and report back with feasibility and cost implications. No corrective actions or findings requiring immediate board action were reported.
