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Auditors give Santa Rosa ISD unmodified opinion; district posts $1.6M drop in net position
Summary
Auditors from Carr, Riggs & Ingram told the Santa Rosa ISD board the 2023-24 financial statements received an unmodified opinion but the district's net position fell $1.6 million year over year; auditors also reported a single major federal program (21st Century Community Learning Centers).
Jonathan Hall, engagement partner for Carr, Riggs & Ingram, presented the Santa Rosa Independent School District's 2023-24 Annual Comprehensive Financial Report and the results of the audit to the board on Nov. 20, 2024. Hall said the engagement included a financial-statement audit and an audit of federal awards and that the firm issued an unmodified opinion on the district's financial statements.
Hall summarized key figures from the ACFR: total program and general revenues were about $19.13 million for fiscal 2024, total expenses were about $20.74 million, and the district's net position decreased by $1,614,158, falling from $13,692,907 to $12,078,749. The auditors reported one major federal program for the year: Assistance Listing 84.287, Twenty-First Century Community Learning Centers; total federal funds expended were $4.8 million for the year.
The auditors also reviewed capital-asset and long-term-liability schedules, noting modest changes in capital balances and that long-term liabilities (bonds, lease obligations and equipment financing) totaled about $14.57 million at June 30, 2024. Hall told trustees that corrected misstatements were posted and that significant accounting estimates included depreciation and pension and OPEB-related amounts.
"This report is intended solely for the use of the Board of Trustees and management," Hall said when he opened the presentation. The firm issued three reports: the Independent Auditor's Report (unmodified), an auditors'report under Government Auditing Standards, and a Uniform Guidance report for the major federal program.
The audit presentation was followed by discussion with the board and financial staff; trustees later approved the 2023-24 audit as part of the consent agenda.
