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Chico Unified accepts fiscal 2024–25 independent audit; two findings had fiscal impact
Summary
Auditors reported four findings for 2024–25 (two compliance-only and two with fiscal impact). One early TK enrollment reduced revenue by about $51,000 and an ADA formula error resulted in an increased revenue adjustment of approximately $296,000; the board adopted the audit.
The board accepted Chico Unified’s 2024–25 independent financial audit during the meeting.
An external audit firm (Horton McNulty & Saytern) reported four findings in the audit packet: two were compliance‑only (associated student body internal controls and an Expanded Learning Opportunity Program procedural change that was already addressed), and two affected the district’s financial statements. Charice, the audit presenter, explained that an early transitional‑kindergarten enrollment in early 2024–25 reduced revenue by about $51,000 because it changed TK ratios, and a formulaic issue in the district’s Average Daily Attendance calculation produced an ADA increase that will result in approximately $296,000 in additional revenue. Staff said the ADA formula has been corrected and that site‑level procedures and trainings have been implemented to address the ASB control finding.
After questions from trustees and public commenters about the ASB controls and remediation, the board voted to adopt the audit report.
