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Independent auditors give Campbell County School District an unmodified opinion; board accepts annual report
Summary
External auditors reported an unmodified opinion and presented year‑over‑year changes: general fund revenues rose roughly $21.7 million to nearly $170 million (mostly taxes), expenditures rose by about $21.6 million to roughly $157 million, federal funding fell about $9.5 million to $13.7 million, and depreciation reserve dropped about $5 million. The board accepted the audit unanimously.
Independent auditors presented the Campbell County School District #1 annual audit to trustees and recommended acceptance of the audit report, which the board approved by unanimous voice vote.
Erica Munn of Bennett, Webber & Hermstead LLP, introduced by a district official, told trustees the firm issued an unmodified opinion for the year. Munn summarized key financial changes: the district’s general‑fund revenues increased by about $21.7 million to nearly $170 million, primarily from property-tax collections; general‑fund expenditures rose about $21.6 million to approximately $157 million, driven largely by salary increases and one-time bonuses; federal funding declined by about $9.5 million to roughly $13.7 million as COVID‑era grants ended.
Munn also said the depreciation reserve account declined by about $5 million and non‑depreciable capital assets increased substantially because of construction activity, noting district projects such as the aquatic center and the Little Powder school move. She added that the district’s cash balance remained within the state’s cash-cap limit for the WDE 100 reporting form.
After brief discussion and questions about the timing of major maintenance spending, trustees voted to accept the audit. The district also announced that the annual comprehensive financial report would be posted on the district website by the end of the week.
