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Los Banos Unified board accepts 2023--24 audit; report notes one minor state-compliance exception
Summary
An independent auditor reported the district's financial statements were fairly presented and that compliance testing found the district generally in compliance; the board accepted the audit and was told a corrected page will be provided to fix a typographical budget number.
The Los Banos Unified School District board accepted the district's 2023--24 independent financial and compliance audit following a presentation by Janette Garcia & Associates.
Janette Garcia, representing the auditing firm, told trustees the auditors'opinion is that the district's financial statements are "fairly presented in accordance with generally accepted accounting principles." She added that compliance testing with state and federal laws and regulations produced generally favorable results, with one minor state-compliance exception that the district is already addressing. Garcia said a typographical budget number in the audit will be corrected and a revised page issued.
The finance committee (composed of Member Smith, Member Castro and the presenter) met earlier the same day to review the report in detail and recommended acceptance. The board voted to accept the audit as presented; the vote carried unanimously.
The auditor emphasized that the audit also fulfills Education Code requirements for the district's annual financial and compliance review. Trustees thanked audit and finance staff for their work and noted the committee's thorough review.
