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Independent auditors issue qualified opinion for Minidoka Joint School District over postemployment reporting
Summary
Poulsen VanLeuven & Catmull issued a qualified opinion on the district’s June 30, 2024 financial statements, citing the district had not implemented GASB 75 (other postemployment benefits) and noting the remainder of the statements otherwise present fairly.
Poulsen VanLeuven & Catmull PA, the district’s independent auditors, issued a qualified opinion on Minidoka Joint School District No. 331’s basic financial statements for the year ended June 30, 2024. The audit report states, "In our opinion, except for the effects of the matter described in the 'Basis for Qualified Opinion' paragraph, the financial statements referred to above present fairly, in all material respects, the respective financial position…" (Independent Auditor’s Report).
The basis for the qualification is described in the audit: Governmental Accounting Standards Board Statement No. 75 (GASB 75) — on accounting and reporting for postemployment benefits other than pensions — had not been implemented. The report explains that deferred inflows/outflows and OPEB-related assets or liabilities required by GASB 75 were not reported and that "the amount by which this departure would affect the assets, liabilities, net position and expenses has not been determined." The auditors separately reported no material weaknesses or compliance findings for federal major programs in the accompanying audit reports.
