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Independent auditor gives Waimea School Board a clean opinion, flags GASB change and food-service subsidy
Summary
The district's independent auditor reported an unmodified (clean) opinion on financial statements and compliance; he noted implementation of a new GASB requirement for compensated absences and a $102,000 food-service subsidy, and said the district plans to outsource food services to reduce subsidies.
Carl Hogan, the district's independent auditor, told the Waimea School Board the audit produced a clean result: "we have a unmodified opinion on your financial statements," he said as he described the audit scope and required governance communications.
Hogan outlined the scope—financial statements, internal control and compliance over major federal programs including Title I and the child nutrition program—and highlighted accounting changes tied to a new GASB estimate for compensated absences (vacation and sick accruals). He also reported that state-source revenues exceeded budget by about $1,500,000 for the year and that the general fund subsidized food-service operations by roughly $102,000; the auditor said the district is pursuing an outsourcing plan to reduce future subsidies.
The board asked for clarification on audit frequency and independence; members were told annual audits are required by state law and that the auditor is an independent firm based in King of Prussia. The auditor confirmed the single audit and the annual financial report have been filed with the Pennsylvania Department of Education.
