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Romeo Community Schools board accepts audit with unmodified opinion, no findings
Summary
At its Sept. 22 meeting the Romeo Community Schools Board accepted an independent audit from Yeo & Yeo reporting an unmodified opinion and no financial or federal-award findings; the auditor also issued a governance letter with recommendations about estimates and upcoming standards.
The Romeo Community Schools Board of Education accepted the district’s annual financial audit from Yeo & Yeo at its Sept. 22 meeting.
Kellen Riker of Yeo & Yeo presented the audit and reported an unmodified opinion, describing it as the highest level of assurance. The auditor reviewed general fund and facilities bond assets and liabilities, revenue and expenditure totals, revenues and expenses per pupil, and a ten-year enrollment trend analysis. He also reviewed single-audit results covering federal dollars and reported no financial statement findings, no federal-award findings and no prior-year findings. Riker closed with a governance letter outlining estimates, recently adopted and upcoming accounting standards, and recommendations for the district to consider.
Board members did not record opposition to adopting the audit. The board voted to approve the annual financial audit as part of its business services resolutions on the same agenda.
