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District corrects audit finding after $800,000 revenue recognition error, CFO says
Summary
The district reported one audit finding: a material weakness in fund‑level revenue recognition tied to late-recorded receipts (about $800,000). Finance staff said the error was corrected and new multi-step checks are in place.
The Indian River County School District told the board it received one finding in a multi-month audit of its $420 million budget: a material weakness in how revenue was recognized at the fund level.
"For the 24‑25 school year, after that seven‑month audit of the $420,000,000, entire budget, there was 1 finding — 1 finding, a material weakness in the recognition of revenue at the fund level," finance director Mr. Greene told the board.…
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