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Independent auditors give Merced City School District a clean opinion but cite two state compliance findings
Summary
iBailey presented an unmodified (clean) audit opinion for the district’s financial statements, flagged a $12 million increase to compensated absences under GASB changes and two state findings related to classroom teacher salary rules and LCFF reporting.
Mark Dew of audit firm iBailey told the Merced City School District Board that auditors issued an unmodified opinion on the district’s financial statements, the highest audit rating, and highlighted two state compliance findings.
Dew said a change from the Governmental Accounting Standards Board (GASB 101) expanded reporting of compensated absences to include…
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