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Wall School District 51-5 accepts FY23 audit showing unmodified opinion and modest fund growth
Summary
The Wall School District 51-5 board accepted the FY23 audit, receiving an unmodified opinion from auditors and direction to monitor recurring internal control findings (segregation of duties and preparation of financial statements); auditors flagged a $115,000 transfer to capital projects for a CTE building and a roughly $253,000 net increase in governmental funds.
Jessica, an auditor with ELO who presented on Zoom, told the Wall School District 51-5 board that the FY23 financial statements received an unmodified opinion. "We have an unmodified opinion on the financial statements, which is the best opinion you can get," she said, and summarized two recurring findings: a lack of segregation of duties and issues with preparation of financial statements.
Jessica walked the board through the management discussion and analysis and noted the district…
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