Independent auditor issues clean opinion on Sioux City Community School District finances
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Williams Company presented the district's June 30, 2025 audit and reported an unmodified (clean) opinion on the financial statements, with federal-award expenditures of about $27.6 million and no audit findings under Government Auditing Standards or the Uniform Guidance.
Graham Forbes of Williams Company told the Sioux City Community School District Board on Jan. 12 that the firm's audit of the district's fiscal year ending June 30, 2025, produced an unmodified opinion, meaning the financial statements are "fairly presented in all material respects." Forbes said the independent auditors found no adverse opinions, disclaimers or modifications.
The auditor highlighted the schedule of expenditures of federal awards, which totaled roughly $27,600,000 for the year. Because that total exceeds the Uniform Guidance single-audit threshold, the district was subject to additional testing; Forbes reported no findings from that testing and no items listed on the schedule of findings and questioned costs.
Board members asked about where the audit is filed and who receives it. Forbes said the district submits the report to the Iowa Department of Education, the state auditor's office, and the Federal Audit Clearinghouse as part of federal reporting. Finance staff handle related certified annual reporting to bondholders and the centralized clearing house used for bond reporting.
The board acknowledged the audit report; no formal corrective actions were reported during the presentation.
The district's finance staff and the auditor said they would answer any follow-up questions and provide additional detail on request. The board moved on to other agenda items after the presentation.