Danville Public Schools receives clean FY2023–24 audit; auditors note one material weakness

Haley Fox, manager at Brown Edwards, told the Danville Public Schools board March 6 that the independent audit of the district’s FY2023–24 financial statements resulted in an unmodified (clean) opinion.

"We did receive an unmodified clean audit opinion of fiscal year 20 24," Fox said, adding that the audit team reported one material weakness related to audit adjustments. Fox said there were approximately five audit adjustments identified and that management has implemented procedures intended to prevent similar adjustments going forward.

Fox described the audit structure and reports included in the packet: the independent auditors’ report, financial statements, notes to the financials, required supplementary information addressing pension and other post‑employment benefits, and a report on internal control over financial reporting and compliance. She said the prior year’s issue about an untimely unclaimed property report has been resolved.

On federal grant testing, Fox reported no findings. The auditors reviewed federal funds including education stabilization and coronavirus relief funding and found compliance testing without exceptions. Fox also said the Virginia retirement system census testing produced no findings.

Board members asked for clarification on the number of adjustments. When asked, Fox said, "I believe it was 5," and agreed to provide the adjustments to trustees earlier in the process next year.

The audit presentation concluded with Fox noting that the reported material weakness stemmed from audit adjustments and that finance staff—after recent turnover—have begun implementing reconciliations and controls intended to address the weakness.

The board did not take a formal vote on the audit presentation; the report was received for review.