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Hannibal 60 audit shows clean financial opinion but flags repeat school-meal reporting error
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Summary
Auditors gave Hannibal 60 an unmodified (clean) opinion on its financial statements for the year ended June 30, 2025, noted $30 million in recent bond proceeds and a $20 million rise in capital projects, and recorded a repeat finding in the federal nutrition program that the district says it has corrected and addressed in an action plan.
The audit presenter summarized the Hannibal 60 School District audit for the year ended June 30, 2025, reporting an unmodified (clean) opinion on the financial statements and unmodified opinions on state and federal compliance sections.
The presenter said the district’s general fund increased by $783,000, the debt service fund rose by $126,000 and capital projects grew by about $20,000,000, largely driven by bond issues. The district issued $30,000,000 in bond proceeds during the year and paid off $3,000,003.80 in existing bonds, the presenter said. Lease-participation certificate debt totaled $7,000,009.35 at year-end, and two Department of Equity Resources loans had a combined balance of $637,000.
On state compliance, the presenter said the audit found one procedural lapse: "we just missed that 30 day deadline" for publishing last year’s audit, a publication requirement the presenter said was corrected promptly. The presenter described that as a finding that had been remediated.
On federal compliance, auditors said the district exceeded the single-audit threshold for federal expenditures and tested the nutrition cluster (food service) and special education programs. The audit included a repeat finding in the nutrition program related to mismatched meal counts or submission records; the presenter said the district has corrected the counts and included an action plan in the report (pages 56–57). A committee member asked whether the discrepancy cost the district reimbursement; the presenter said the issue had been corrected and was not significant (the questioner referenced the figure "36" as the discrepancy).
No motions or formal votes regarding the audit appear in the transcript. The presenter directed listeners to report pages for details: financial statements (pages 1–34), state compliance (pages 36–43), federal compliance and tested programs (pages 44–57), and the district’s corrective action plan (pages 56–57).
