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Board hears audit highlights; unrestricted cash balance ends above policy minimum
Summary
A staff reviewer flagged audit findings including an over-expenditure in seven funds and reported the district ended the year with an unrestricted cash balance of 15%, above the 12% policy minimum; the board discussed exploring a different auditor to meet state deadlines.
A board member who had reviewed the audit called attention to a letter in the audit (page 116) noting an over-expenditure of appropriation across seven grant-related funds and pointed trustees to details on page 55. The reviewer said she'd prepared a fund-balance comparison and provided page references to help directors follow the auditors' work.
The staff summary showed the district's unrestricted cash balance ended the year at 15%, exceeding the policy minimum of 12% by three percentage points. Board and staff discussed audit-timing problems, with the Superintendent saying the district is considering partnering with other small districts to find an auditor that can meet state timelines and avoid jeopardy with ODE reporting.
