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District accepts FY2025 single audit; finds one reconciliation deficiency and enacts controls
Summary
The board accepted the fiscal‑year 2025 single audit, which included one audit finding tied to untimely reconciliation with the county treasurer; finance staff described an updated monthly checklist, additional review steps and a corrective timetable intended to prevent recurrence.
Gilbert Public Schools officials presented the FY2025 single audit on March 31 and the board accepted the report by roll call. Auditors reported a single finding related to the timeliness of cash reconciliation with the county treasurer; staff said the issue stemmed in part from turnover in a key finance position and that the district corrected the beginning balances and submitted a revised AFR when the discrepancy was discovered.
Chief financial staff described corrective actions implemented during the audit process: an updated monthly reconciliation checklist that adds county‑treasurer reconciliation steps, a requirement that prior‑year balances be rolled into the current year by Nov. 15, and an added monthly review by finance leadership. Bonnie Betts said staff convened the audit committee and added internal controls and cross‑training to reduce reliance on a single individual.
The USFR compliance questionnaire (Uniform System of Financial Records) was also presented; the district recorded 10 “no” answers on the questionnaire (up from nine the prior year) on a 170‑question form. Finance staff said common areas of noncompliance historically include property control and student attendance reporting and that transportation routing and vehicle inventory reporting require continued attention when key positions turn over. Board members accepted both the single audit and the USFR compliance questionnaire by roll call.
District officials said they will file corrected transportation inventory and routing reports as needed and continue training and oversight to prevent similar future findings.
