Board accepts school activity fund audit; auditor issues clean opinion
Summary
Auditor presented the school activity fund audit showing nearly $1.08 million in cash across schools, revenues exceeding expenditures by about $117,000, and one new internal-control finding tied to a resolved prior cash-shortage matter; the board accepted the audit by voice vote.
The Lincoln County School Board accepted the school activity fund audit after an auditor’s presentation that included four accompanying reports and a governance letter.
Auditor (speaker 16) told the board the audit carried a clean opinion under the state’s internal school funds manual. The combined financial statements showed “a little over $1,000,000 — almost $1,080,000 in cash at the individual schools total,” and about $4,000 in accounts payable; the auditor said revenues exceeded expenditures by a little over $117,000 for the last school year. The auditor also summarized the internal-control and compliance letter, noting one new internal-control deficiency for the fiscal year and that a historic schedule of cash shortages (from the Highland Rim issue) has been paid in full.
Board members asked clarifying questions and then moved to accept the audit. A motion to accept the audit was made and approved by voice vote.
The auditor said pages 9–23 of the report break out individual-school fundraising and account details for anyone seeking itemized figures. The governance letter and management report described minor housekeeping adjustments and nonmaterial items; the auditor offered to answer follow-up questions.
The acceptance formally places the audit and related reports in the board record; board members and staff praised the bookkeepers for the clean audit and noted ongoing housekeeping to address control issues.
