IUSD auditors report clean financial and Measure E performance audits
Loading...
Summary
Independent auditors told the board the district received unmodified (clean) opinions on the 2024–25 financial statements, federal-award compliance, and state compliance, and the Measure E building fund performance audit found expenditures were properly accounted for; auditors said there were no reportable findings.
The board received presentations from Eide Bailly auditors on the district-wide 2024–25 financial audit and a separate financial and performance audit of the Measure E building fund. Rick Alonzo, identified at the meeting as a partner with Eide Bailly, told the board the firm issued unmodified opinions for the district’s financial statements, federal-award compliance, and state compliance — the cleanest type of audit opinion. He said the audits required no audit adjustments and produced no findings or recommendations in the audit results pages.
On the Measure E building fund, auditors explained the dual scope (financial and performance) and said they sampled $14.3 million of the $22.1 million in expenditures (about 65% of the total). Their tests indicated that, in all material respects, the district properly accounted for Measure E expenditures and had complied with voter-approved project scope. The auditor noted a management letter listing suggestions for improving internal controls over ASBs, described as routine for districts of the district’s size.
Board members asked technical questions about an accounting change that required reporting compensated absences (sick-leave liabilities) for this fiscal year; auditors explained the variance was due to new accounting pronouncements, not an error. Trustees then moved and voted to receive and file both audit reports.
"For financial statements, the district received an unmodified opinion," the auditor reported. Board members and the superintendent thanked staff for timely audit preparation and stewardship of Measure E funds.
