Port Orford-Langlois posts clean audit and stronger fund balance, auditor says

External auditors presented a clean audit to the Port Orford-Langlois SD 2CJ board and highlighted stronger district finances and no material control weaknesses.

Ash, the auditor from Umko/Umka Valley Financial, told the board the firm had issued an unmodified opinion on the district financial statements and that the district’s net position increased by $1,100,000, roughly a 23% gain over the prior year. "We issued a clean opinion," the auditor said, noting the district’s general fund ending balance stood at $3,400,000, an increase of $703,000 from the previous year. The audit also showed general fund revenues exceeded the budget by $672,000 and expenditures were under budget by about $1,300,000.

The auditor reported the district invested approximately $400,000 in capital assets this year, bringing total capital assets to about $4,700,000, and that the district had no outstanding long-term debt. Because federal expenditures exceeded $750,000, the district received a single-audit review; auditors found no material weaknesses or significant deficiencies in the single-audit testing for major federal programs, including the educational stabilization fund.

Board members and administration thanked finance staff for their work. Superintendent Tara and board members commended staff for managing finances in a year the district described as uncertain. "Thank you for the clean audit and a strong financial year," a board member said.

The board accepted the audit presentation; no formal corrective actions were reported during the meeting.