Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finances topic
No spam. Unsubscribe anytime.
Board accepts 2023–24 audit showing clean opinion and stable reserves
Summary
Auditors presented a clean (unmodified) opinion on the Elizabeth City-Pasquotank district’s 2023–24 financial statements, noting a general fund balance around $7.0M and a school food-service profit near $487,000; board voted unanimously to accept the audit.
The Elizabeth City-Pasquotank Board of Education unanimously accepted the district’s audited financial statements for the year ending June 30, 2024, after auditors reported a clean (unmodified) opinion and no compliance findings.
Paul Carson of Anderson, Smith & White told the board that the general fund balance at June 30, 2024, ended at approximately $7.0 million (a modest decrease from the prior year) and that the school food-service fund reported a profit of about $487,006. Carson said compliance testing of state and federal grants found no reportable findings and no internal-control weaknesses; a separate management letter offered suggestions to strengthen controls and operating efficiency but did not identify material misstatements.
Carson said the district had prudently managed reserves as ESSER funds expired and noted that cash balances across funds appeared in good condition. Board members thanked the finance staff for their work in completing the audit. A motion to accept the audit was moved and seconded; the vote was unanimous for those present.
Next steps: The district will review the management-letter recommendations and continue financial planning as ESSER-era funding has ended.
