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Auditor: Mustang schools show healthy carryover but note accounting qualification
Summary
Auditor Chris Gullickson reported a generally positive audit for Mustang Public Schools with a qualified presentation related to fixed-asset depreciation, no material findings in internal control or federal program testing, and a stronger carryover balance compared with the prior year.
Chris Gullickson, the district auditor, presented the annual audit to the Mustang Public Schools Board on March 30, saying the financial statements are materially presented but include one qualification related to how fixed assets are recorded.
Gullickson told the board the audit included three standard reports: an independent auditor’s opinion on the financial statements, a report on internal control, and a report on federal programs. He said the district received a qualified opinion because the district’s presentation does not show a depreciated fixed-asset number on the balance sheet in the format the state…
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