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Board accepts annual audit; recurring finding on financial statement preparation noted
Summary
The board accepted the district audit filed with the Federal Audit Clearinghouse; auditors again flagged financial statement preparation as a recurring finding. The audit fee for the year was stated as $16,500.
The New London School District Board voted to accept the audited financial statements filed by Ericsson and Associates, which were submitted in accordance with Federal Audit Clearinghouse guidelines.
District staff summarized the audit process and noted the single recurring finding: financial statement preparation. Staff explained that the finding is common among districts that rely on external firms for financial-statement preparation; the audit work itself required about $16,500 this year. Board members asked whether the recurring finding reflected a statutory requirement or auditing standards and discussed potential legislative remedies; staff emphasized the role of external auditors in ensuring transparency.
The board approved the audit and staff said the audit report will be posted on the district website and hard copies made available at the district office.
