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External auditor gives Garfield schools a clean opinion; fund balance about $9.3M, auditor lists nine recommendations
Summary
External auditors presented the annual comprehensive financial report and an unmodified opinion, reporting an approximate $9.3 million fund balance and nine management recommendations addressing payroll certification, account transfers, reporting timeliness, purchasing documentation, food service reconciliation, meal application coding, transported student determinations, and capital inventory.
Andrew Parenti, representing the district’s external auditors, reported to the Garfield Board of Education that the auditors will issue an unmodified (clean) opinion on the district’s financial statements for the year ending June 30, 2025. In his presentation the auditor said the district ended the year with approximately $9,300,000 in fund balance, of which roughly $6,000,000 the board can use going forward after designations and amounts used to balance the current budget.
Parenti walked the board through the fund balance breakdown the auditors identified: about $705,000 in excess surplus minimum, $2,100,000…
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