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Independent auditor issues unmodified opinions for district and bond fund; no findings
Summary
Auditor Eide Bailey reported unmodified opinions on Hermosa Beach City School District financial statements and the Measure S bond fund; the auditors found zero findings this year after four findings last year.
The board received the district’s 2023‑24 financial and Measure S bond audit reports and heard that auditors issued unmodified opinions on both the financial statements and state compliance work. Anna Cordillion, audit manager for Eide Bailey, told the board the firm issued an unmodified opinion and that there were zero audit findings for the district and for the bond fund this year.
"We have issued an unmodified opinion on both the financial statements as well as state compliance," Cordillion said, adding that the bond fund also received an unmodified financial and performance opinion and that the auditors reviewed 98 percent of the bond fund expenditures for the year. She noted the previous year had four findings and said the absence of findings this year reflects management’s implementation of stronger policies and procedures.
Board members praised district staff for the improvement. The auditor emphasized that audit results are year‑specific and urged continued adherence to established controls to sustain the results. The board accepted the audit presentation; no formal vote was required for receipt of the audit, and the oversight committee affirmed the same findings when it presented its annual report later in the meeting.
