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Newberg School District audit clears financial statements but flags one transfer; refinancing raises near-term risks
Summary
Auditors gave Newberg SD a clean opinion but noted the general fund exceeded board-authorized appropriation transfer thresholds; district staff outlined revenue pressure, substitute-cost increases and a Dundee property refinancing that raises interest costs but will be covered by property sale proceeds.
Auditors from PolyRogers reported an unmodified (clean) opinion on Newberg School District's financial statements, but flagged one compliance finding involving transfers between funds that exceeded board-authorized appropriation thresholds. "You're not getting audited because you did anything wrong," audit manager David Bledsoe told the board, explaining the annual state-required audit covers accounting rules, Oregon minimum standards and federal-grant compliance.
The transfer finding relates to movement of resources between district funds, not an outside…
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