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Auditor issues clean opinion; treasurer reports strong cash position
Summary
Kemper's presented an unmodified (clean) audit opinion for FY25 and the treasurer reported robust cash and sales-tax receipts; the only recurring audit finding was the district's inability to prepare footnotes because it has no CPA on staff.
The Richland County Community School District 1 audit for FY25 received an unmodified (clean) opinion from Kemper's auditors, who told trustees the district's financial statements were presented fairly on the modified cash basis.
During the presentation the auditor noted one recurring, non‑unusual finding: the district does not prepare footnotes to the financial statements because it does not have a CPA on staff. The auditor characterized this as a common finding for districts without an in‑house CPA and said there were no control or material‑weakness issues identified.
The treasurer reported November cash balances of $40,597,980.40 and total funds of $41,247,439.20, and said the district’s 1% sales‑tax receipts were strong for the month ($175,171.19). The district’s financial profile score increased from 3.7 to 3.8 year‑over‑year; days‑cash‑on‑hand remained above recommended levels. Trustees voted to accept the audit and the financial reports by roll call.
Board members asked follow‑up questions about the footnote finding and directed administration to consider options for covering footnote preparation — for example contracting with an external CPA — and report back to the board.
