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District auditor issues qualified opinion on modified cash-basis statements; federal program audit shows compliance
Summary
Audit presentation: auditor told trustees the district received a qualified opinion on the modified cash-basis annual financial report for year ending 06/30/2025 and that the separate federal program audit found compliance with requirements for federal funds exceeding $750,000.
Dr. Wilcox introduced the auditor and Frank Adams brought forward Jeffrey Olson of Evans Marshall and Peace to present audit results. Olson thanked district staff for cooperation and explained the district will receive two reports: the annual financial report and a separate federal program report required when federal spending exceeds $750,000.
Olson said the firm issued a qualified opinion on the district's financial statements on a modified cash basis for the year ended June 30, 2025. He explained the federal program audit covers federal grants and, in Olson's view, "the district complied with the requirements governing these financial monies," and that there were no findings reported for the federal program audit. He closed by inviting questions; none were asked.
Provenance: Auditor introduction and remarks about the two audit reports and the qualified opinion (SEG 020'063).
