Wrenshall school auditors issue unmodified opinion; review shows $471,119 fund balance at June 30, 2024

Wipfli LLP presented the Independent School District No. 100 fiscal year 2024 audit to the Wrenshall Board of Education, reporting an unmodified opinion on the district’s basic financial statements.

According to the audit presentation, Wipfli noted an unmodified opinion and recorded a “significant deficiency — financial statement preparation” but found no legal compliance findings. The auditor’s packet showed General Fund revenues of $5,629,943 and expenditures of $5,345,676 for FY2024, producing a net increase in the General Fund balance of $314,759 and a June 30, 2024 fund balance of $471,119; the unassigned General Fund balance was $363,074.

The auditors outlined long‑term obligations in the packet: the district’s outstanding general obligation bonds total $12,555,000 with scheduled principal and interest through 2041. The audit engagement letter included the expected fee for the engagement and described auditor and management responsibilities for internal control reporting.

Board members recorded receiving the audit presentation during the business office report and placed accepting the FY2024 independent audit on the action agenda for formal acceptance.

The board did not take exception to the audit opinion; the auditors and district staff noted the finding about financial statement preparation and recommended continued attention to internal controls and documentation to reduce reliance on external preparation of GAAP financial statements. The board will consider the formal audit acceptance and any follow-up actions in its official minutes.