Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Audit topic
No spam. Unsubscribe anytime.
Auditor gives District 59 a clean opinion; net position up about $5 million
Summary
Baker Tilly reported a clean audit opinion for Community Consolidated School District 59, noting a roughly $5 million increase in net position, modest short-term fund changes tied to capital projects, and no internal-control findings. The board received the annual reports at its Dec. 10 meeting.
Joel Lakehead, managing director at Baker Tilly, told the Community Consolidated School District 59 Board of Education that the firm issued a clean (unmodified) opinion on the district’s financial statements for the fiscal year and expects the Illinois State Board of Education profile status to be a 4, the highest recognition level.
That assurance, Lakehead said, means the financial statements can be “reasonably relied upon by an outside user.” He highlighted a long-term view showing net position increased by about $5,000,000 and pointed to a 10-year trend section in the report for context. Lakehead also noted the district’s general operating funds remain relatively stable, while capital projects drove most of a near-term decline in all-funds totals.
The auditor walked the board through the components of the report, noting fund-balance changes and a roughly $151,000 increase in operating fund balances. He said the capital projects fund declined because of about $10,300,000 in capital outlays during the year, and that combined funds fell about $4,500,000, largely due to debt service and capital spending.
Lakehead said Baker Tilly did not identify any internal-control findings or significant audit exceptions to report to the board. He encouraged trustees to read the management’s discussion and analysis in the front of the report for a plain-English summary of the year’s results and offered to meet with board members or staff to answer follow-up questions.
The presentation concluded with Lakehead’s offer to share contact information and to answer questions outside the annual visit; trustees thanked the business office staff for preparing the district’s records.
The board received the audit presentation and will file the annual financial report with the Illinois State Board of Education as a separate action item on the agenda.
