The Smithville R‑II Board of Education approved the district’s FY25 financial audit after a presentation by auditors from Westbrook and Company.

Brad Steele of Westbrook told the board the independent audit opinion was unmodified: “in our opinion, the financial statements referred to above present fair in all material respects,” he said, describing that result as the clean audit the Missouri Department of Elementary and Secondary Education and bonding companies expect.

Steele reviewed the district’s fund structure, long-term debt and the composition of revenues and expenditures. He noted the district’s reserve ratio is about 20 percent — a level the auditors prefer to see. He also described the special revenue, capital projects and debt-service restrictions and summarized required communications, including recommendations and best practices the audit identified.

Steele said the auditors also issued an unmodified opinion on federal programs and described an audit process that relies on materials the district prepares ahead of the audit visit. “This is your statement of activities… and this is your balance sheet,” Steele told the board as he walked through slides that showed fund balances, principal due schedules and revenue-expenditure trends.

Board members thanked the audit team and finance staff for their responsiveness through the year-long preparation process. After questions and discussion, the board voted to approve the audit as presented.

The presentation also included discussion of the district’s debt-service structure and the auditors’ material-weakness/mitigating-control observations; auditors said mitigating controls had reduced the risk such that findings were classified as significant deficiencies rather than open material weaknesses.