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Auditor gives Frederic School District an unmodified opinion; board hears funding and reserve details
Summary
The district's independent auditor reported an unmodified opinion on the financial statements and reviewed fund balances, federal and state aid totals, long-term debt and recommendations about internal controls; the board voted to accept the audit.
Brandon of 2 Rivers Accounting told the Frederic School District board that the independent auditor's report contained an unmodified opinion on the district's financial statements, meaning the statements were presented in accordance with generally accepted accounting principles.
The auditor summarized key figures and compliance findings, noting no compliance findings on major federal programs and a general fund unassigned balance equal to 16.7% of general fund expenditures. Brandon said the district ended the year with general fund revenues of $8,263,005.69 and expenditures of…
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