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SFUSD board approves unaudited financials and audit extension amid Empower reconciliation
Summary
The board approved unaudited actuals for fiscal year 2021'2 showing a better-than-projected ending fund balance driven by timing and vacancy-related savings, and authorized an audit-extension to allow reconciliation of payroll data from Empower SF.
The San Francisco Board of Education on Oct. 25 approved the district's unaudited actual financial report for the fiscal year ending June 30, 2022, and granted a requested extension for the annual audit to permit reconciliation of payroll and other data tied to Empower SF.
Chief Financial Officer Megan Wallace told the board the unaudited actuals showed an improved ending fund balance compared with interim projections — an increase the presentation quantified at roughly $56.3 million — largely attributable to timing differences on restricted revenues and expenditure savings from vacancies…
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