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Blue Valley audit: AGH issues unmodified opinion on 2023–24 financials
Summary
Auditors from Allen, Gibson, Hulick delivered an unmodified opinion on Blue Valley’s Annual Comprehensive Financial Report for the year ending June 30, 2024, reported no findings on federal awards, and said control testing uncovered no issues; board members asked follow-up questions about population statistics and internal controls.
The Blue Valley Board of Education received the district’s Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024, and heard auditors from Allen, Gibson, Hulick (AGH) say they issued an unmodified opinion on the financial statements.
John Nybarter, senior vice president of Assurance at AGH, told the board, “We issued an unmodified opinion.” He said AGH also issued unmodified opinions on the district’s audit of federal awards and found no audit findings related to those grants.
Chief Financial Officer Jeremy McFadden introduced the report and provided bound copies to the board. AGH’s presentation noted the district expended more than $750,000 in federal awards, which triggered a special audit of those expenditures; AGH reported no findings on those grant audits.
Board members questioned the magnitude and composition of the district’s balance sheet. One board member read figures from the report indicating about $1.1 billion in assets and roughly $773 million in liabilities, with a net position of approximately $377 million; AGH said, “Nothing alarming comes from that as far as ratios to other school districts.” AGH explained much of the asset total reflects capital assets recorded at cost (noncurrent capital assets), not fair-market values.
A board member asked whether AGH tests internal controls for cash management and expenditures. Nybarter explained AGH performs walkthroughs and control testing and said, “Based on our testing, we did not have any issues here at the district.” He added that audit procedures include tests of details of amounts and that no audit adjustments or uncorrected misstatements were identified.
Separately, a board member raised questions about the statistical population table in the report (Table 13), noting variances in the district-population figures and asking the auditor to follow up with the firm that prepared the statistical section. AGH agreed to follow up with Gilmore Bell to review the statistical-section numbers.
The audit presentation concluded with the auditors thanking district staff for their cooperation and offering to answer further questions. No audit findings or required corrective actions were reported in the presentation to the board.
