Auditor presents unmodified opinion; notes internal control issues and material adjustments

The board received an audit presentation from Bergen KDV during the Dec. 16 meeting. The auditor's report states: "In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Independent School District No. 2, as of June 30, 2024."

The auditor also reported internal-control findings: a significant deficiency related to a lack of segregation of accounting duties (a common issue in small districts), and a material audit adjustment that auditors proposed to prevent a material misstatement (noted in the schedule of findings and corrective action plans). The board voted to accept the audit report.

The audit materials presented district financial highlights for the year ended June 30, 2024, including General Fund revenues of $4,829,802, total governmental revenues of $5,759,035, total assets and deferred outflows of $15,857,872, and long‑term liabilities including $6,865,000 in general obligation bonds. The auditor's report and required supplementary information are part of the district's annual financial report.