Rowan County’s independent auditor presented the fiscal year 2024 audit to the board and reported a clean (unmodified) opinion on the district’s financial statements for the year ended June 30, 2024. The auditor — participating remotely — reviewed key figures: approximately $7.4 million in cash, about $8 million expended on capital projects during the year, and roughly $47 million in outstanding long-term debt, with about $9.3 million of that principal expected to be covered by the Kentucky School Facilities Construction Commission.

The audit presentation included discussion of pension and OPEB liabilities, recent actuarial movement that lowered employer rates, and federal awards testing. The auditor reported tests of the child nutrition cluster and ESSER (COVID-era) funds and said there were no findings requiring action in the main audit report; a separate management letter listed minor, common comments about cash-deposit timing, gate receipts procedures and annual reconciliations.

After the presentation, the board voted to approve the FY2024 audit as presented and later approved the district’s annual financial report (the submission to the state). Board members noted the annual financial report had been filed to meet the Nov. 15 state deadline and that the board action was recorded in the minutes as required.