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Audit committee approves external audit plan, flags Oracle implementation and cash controls as priorities
Summary
The Rochester Board of Education's audit committee accepted an external audit plan for fiscal year ending June 30, 2026; auditors said the new Oracle accounting system and large cash balances will be major audit focal points and said they will add Oracle expertise to the team.
The Rochester Board of Education's audit committee on June 2 approved an external audit plan for the fiscal year ending June 30, 2026, and heard auditors describe extra steps they will take to address the district's new Oracle accounting system and exposure around cash and large estimates.
"This is the first year that we're really going to see [Oracle] in action," said Matt Montelbo, partner with audit firm Dresser and Mali, introducing the firm's team and the district audit approach. Montelbo told the committee the auditors will spend additional time at the audit onset to verify reports and processes produced by Oracle.
Schwarz Abalard, the firm's senior auditor and compliance specialist, highlighted high-risk audit areas that will receive special attention, including cash balances, receivables and major estimates. "The district have a lot of cash on hand over 300 million," Schwarz said, noting auditors will obtain external confirmations and review collateral arrangements for deposits.
The audit plan delivered several standard commitments: an opinion on the financial statements, an internal-control report tied to those statements, compliance testing of major federal programs, an extracurricular activity funds audit and agreed-upon procedures on Contracts for Excellence. The team said primary fieldwork is scheduled to begin in late September, with draft financial schedules targeted by Nov. 6 and a final presentation to the board in December.
Commissioners asked about prior internal-control themes and how auditors will address potential inaccuracies created by a new financial system. Montelbo said the firm will assign an Oracle-experienced director as a consultant to the engagement and plan more intensive on-site testing during the initial phase of fieldwork.
Commissioner Griffin moved to accept the external audit plan; President Simmons seconded. The committee approved the plan by voice vote and recessed into executive session.
What's next: auditors begin planning and preliminary testing in June and will return to present draft financial schedules in November and audit results at the December board meeting.
