Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit Finance topic
No spam. Unsubscribe anytime.
Auditors give clean report; board approves $702,083 in warrants
Summary
Keeney McKee presented an independent audit with a clean opinion on the district's regulatory-basis financial statements; the board approved monthly warrants totaling $702,083.19 and accepted the auditor's report by voice vote.
Keeney McKee presented the district's independent audit and the Holcomb Unified School District board accepted the report and approved monthly financial warrants totaling $702,083.19.
Chastity Farr, the auditor from Keeney McKee and Company, said the firm issued a clean opinion on the district's regulatory basis of accounting and found no material weaknesses or significant deficiencies in the areas they tested. "We didn't note any disagreements with management," Farr told the board during the presentation.
The audit packet noted the district's cash and bank balances (carrying cash just over $7 million, a bank balance near $8 million), line-item notes on capital projects and well and concession-stand activity, and that federal programs required the single-audit procedures because the district spent more than $750,000 in federal funding. Farr walked the board through schedule and note items, including a reduction in cash of roughly $250,000 year over year and routine journal entries related to payroll liabilities.
Separately, Mike (the district finance presenter) reviewed this month's warrants and expenditures, calling out two payments to High Plains Coop ($137,910 and $68,024), a $302,126.32 county remittance labeled as Holcomb recreation tax flow, an LED sign purchase for $19,872 and a high-school hot-water-pump replacement for $19,620. He reported total warrants of $702,083.19; the board moved and approved the financials by voice vote.
The auditor's report also described compliance testing on federal awards and noted no instances of material noncompliance for major programs that were tested. Farr said the report on internal control described possible deficiencies that could exist but that none were identified in the audit work performed.
The board approved accepting the audit report and the monthly financials; no roll-call tallies were recorded in the minutes beyond the unanimous voice votes.
The board did not attach any additional conditions to acceptance; auditors left engagement letters for the district's consideration for future work.
