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Audit committee recommends board affirm corrective-action plan after Portland SD 1J ACFR and single audit
Summary
The audit committee reviewed Portland SD 1J's annual comprehensive financial report and single audit, heard an auditor's unmodified opinion alongside three compliance findings, and informally recommended the full board accept the reports and affirm staff's corrective-action plan with timelines.
Patty Sullivan, chair of the Portland SD 1J audit committee, led a review of the district's annual comprehensive financial report (ACFR) and single audit at a committee meeting where auditors reported an unmodified opinion but several compliance findings.
Dan Miley, a partner at Talbot, Corbola and Warwick (TKW), summarized the audit process and results, saying, "I am happy to report that at the end of this, we were able to issue an unmodified opinion," meaning the auditors concluded the financial statements are presented fairly in accordance with U.S. GAAP. Miley told the committee three programs'the child nutrition cluster, Title I and the education stabilization fund'comprised roughly 47% of the district's approximately $64,000,000 in federal expenditures for the fiscal year.
The auditors identified three findings required by Oregon standards. Two findings involved overexpenditures: roughly $4,100,000 in the general fund for instruction and about $3,600,000 in a special-revenue fund for…
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