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Independent audit gives clean financial opinion but flags state compliance items, including a potential $49,000 TK ratio penalty
Summary
External auditors issued unmodified opinions on the district’s financial statements and federal compliance but reported state compliance findings including attendance and a Transitional Kindergarten adult‑to‑pupil ratio error that could generate a $49,000 penalty; auditors said most findings were site‑level and management is addressing them.
Crowe partner Elizabeth Saab presented the district’s external audit Tuesday, reporting an unmodified opinion on the financial statements and on federal compliance programs but a disqualified (state) compliance opinion because several state‑level compliance items were identified at school sites.
Saab told the board there were no material weaknesses or significant deficiencies in the financial statements. “We issued an unmodified opinion,” she said.
On state compliance,…
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