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Auditor: Mead district shows clean opinion on financial statements; some federal grant filing delays remain
Summary
Auditor Deidra Bridal reported the district’s financial statements present fairly and the audit found no governance findings (none since 2020); she noted verification of about $38.4M of $39.9M revenue, some decreased cash balances, food-service losses and potential follow-up work pending federal guidance.
Deidra Bridal of Casey Peterson & Associates presented the annual audit exit report to the board and said the auditors intend to issue an unmodified opinion that the financial statements present fairly in all material respects. Bridal noted the firm has not reported any audit findings for the district since 2020 and commended the district’s segregation of duties and cross-training in the business office.
Key figures highlighted included verification of approximately $38.4 million of $39.9 million in district receipts and a net decrease in some cash balances: general fund cash down about $200,000 and capital outlay cash down about $500,000. Food-service cash dropped roughly $320,000 and the food-service program lost about $375,000 last year; the auditor attributed some of this to families not applying for free/reduced-price meals and one-time state supply-chain grant monies ending.
Bridal cautioned that federal clearinghouse filing is contingent on federal guidance that had not yet been finalized; if federal requirements change auditors may need to perform additional work. She explained journal entries in the governance letter were related to accounting rules and did not represent operational failures. Board members thanked the auditors for proactive engagement throughout the year.
