FY24'25 audit: Chickasha schools receive no major findings; district records drop in general-fund balance

The Chickasha Public Schools board received the fiscal-year 2024'25 audit from Jesse Frisbie of Bledsoe, Huitt & Gullickson, who told trustees the audit produced no major findings for the district'level financial statements or its federal-program testing.

Frisbie described two standard audit opinions that the firm issues: a qualified opinion on the district'level regulatory basis of accounting (the usual report for many school districts) and an adverse opinion related to GAAP presentation, which he said reflects that the district does not present full-accrual GAAP statements (a disclosure of accounting basis, not an adverse operational finding). He said the firm performed federal single-audit testing because the district expended more than $750,000 in federal awards (noting ESSER and child nutrition as major programs) and reported no major federal findings.

On the district'level finances, Frisbie reported that general-fund revenues for the year were "a little over $25,000,000," expenditures were $27,058,919, and the general-fund ending balance at June 30 was $5,534,826, a decrease of $1,370,205 from the prior year. The building fund and bond fund results were reviewed as well. Frisbie said the management letter contained a single, nonmaterial recommendation to improve travel documentation (listing attendees and reconciling purchases to travelers) to make reimbursements more easily auditable.

Board members asked follow'up questions about how the district is improving internal controls and how the travel documentation change will be implemented; staff said procedures have already been adjusted to collect more detail on travel and meal reimbursement.