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Snowline audit receives clean opinion but notes custodial-fund reporting issue; board approves audit

Snowline Joint Unified School District Board · February 24, 2026

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Summary

District auditor gave an unmodified opinion for both the district and Measure J bond but flagged an internal-control finding tied to a custodial fund restatement and a fair-market-value misstatement; the board approved the audit unanimously after staff said the county corrected the missing custodial amount.

The district’s independent auditor presented the 2024–25 audit and reported an unmodified (clean) opinion for both the Snowline Joint Unified School District and the Measure J bond, while also identifying an internal-control finding related to custodial-fund reporting and fair-market valuation disclosures.

The auditor, who introduced herself in the meeting, said the finding has two parts: a restatement for custodial funds (an amount that belongs to other entities and was omitted from the county report) and a misstatement related to the market value of certain cash-equivalent investments. She emphasized that the market-value issue refers to calculated fair-value adjustments — not cash the district can spend.

On the custodial restatement, the auditor said the county failed to include an amount in its report; district staff contacted the county and the county subsequently added the amount to their report. The auditor said the governance-letter language that lists common risks is standard and not unique to Snowline. For the Measure J bond, the performance-audit portion (which compared expenditures to voter-approved projects) found that reviewed expenditures aligned with the voter-approved purposes.

Following the presentation and Q&A about the county reporting issue, a board member moved to approve the audits (item I2); the motion was seconded and approved unanimously by show of hands.

The board did not identify further immediate corrective actions in public remarks beyond the district’s contact with the county and ongoing monitoring noted by the auditor.