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District auditors give unmodified opinion; board hears revenue, federal spending and bond figures
Summary
Auditors presented the 2024 annual comprehensive financial report, reporting an unmodified opinion with no internal control or compliance findings; the board reviewed revenue/expenditure figures, federal ESSER spending and outstanding general obligation bonds.
The board received the district's 2024 annual comprehensive financial report and an auditor's presentation. The auditor summarized the deliverables filed with the Illinois State Board of Education and told the board the district had received an unmodified opinion and "no findings on internal control and no findings on compliance," language the auditor used in the presentation.
The auditors reported the district expended about $15,919,000 in federal dollars this year and tested the ESSER program at roughly $6,400,000 with no compliance or internal-control findings on that program. The presentation reviewed districtwide revenues and expenditures: annual revenues reported in the presentation and year-over-year changes in intergovernmental revenue and interest income. The auditor said general obligation bonds outstanding were about $21.9 million, the district paid about $5.8 million in principal this year and recorded interest expense of roughly $775,000.
District finance staff and board members discussed operating fund balances: the auditors presented an approximately $8.8 million increase in operating-fund balance and confirmed the district's financial profile score as 4 out of 4, a designation of recognition from the Illinois State Board of Education.
No additional formal action was recorded in the transcript beyond receipt of the audit and the board moving to regular financial reports now that the audit is complete.
