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Auditors give Southeast Polk an unmodified opinion, flag material weaknesses in reconciliations and GAAP adjustments
Summary
Bonsack & Fromelt presented the FY2025 audit: a clean (unmodified) financial statement opinion but two material weaknesses (timely bank reconciliations and adjustments required for GAAP), a prior-year single-audit filing compliance finding for 2024, and recommendations to strengthen payroll and segregation-of-duties controls.
Auditors from Bonsack & Fromelt LLP gave the Southeast Polk Community School District a clean financial statement opinion for the fiscal year ended June 30, 2025, but reported two material weaknesses and other control observations at the April 9 board meeting.
"For the financial statement audit, the audit result is that you have an unmodified opinion," auditor Mia Fromelt told the board. She then described two material…
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