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District audit: no internal control deficiencies; operating cost per pupil $19,577
Summary
External auditor Tom Burroughs reported no internal control deficiencies, ISBE highest financial data profile recognition, and noted operating expenditures per pupil of $19,577 and year-over-year operating revenue decreases of about $1.5 million.
Tom Burroughs of Phillips, Salmi & Associates presented the district audit and supplemental financial information to the Pekin Community High School Board.
Burroughs reported "No internal control deficiencies" and said the district had received the highest financial data profile recognition from the Illinois State Board of Education (ISBE). He identified a drop in operating revenues of roughly $1.5 million, a decline in interest income of about $230,000 and a $180,000 decrease in federal aid. Burroughs said total operating expenditures rose by approximately $2.5 million year over year, driven primarily by personnel costs and increases in educational services and supplies.
Board discussion included the significance of the revenue decreases and the district's reserve position. The board also noted there were no disagreements with management and that staff had prepared materials thoroughly for the auditor. The audit presentation was accepted by the board as part of the meeting record.
