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Wall School District 51-5 receives clean FY24 audit; two recurring internal-control weaknesses noted
Summary
ELO CPAs and Advisors delivered a clean FY24 audit for Wall School District 51-5 and a clean single-audit for federal awards, while identifying two repeated material weaknesses tied to small staffing and segregation-of-duties issues.
Lucas Howard, an auditor with ELO CPAs & Advisors, told the Wall School District 51-5 board the firm issued an unmodified opinion on the district’s FY24 financial statements and a clean single-audit covering federal awards.
Howard said the district expended about $1,500,000 in federal awards during the year, with impact aid accounting for roughly $950,000 of that total. He reported a net increase in net assets of about $700,000 for…
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