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Audit: Pendleton SD reports $18.6 million ending fund balance, no audit findings
Summary
Cockburn & McClintock presented the 2023-24 audit showing a combined governmental fund balance of $18.6 million (up $2.9 million), a $4.7 million decrease in total debt, and no audit findings; the board approved the audit unanimously.
An independent audit of Pendleton School District 16R's 2023-24 financial statements showed a combined governmental fund balance of $18.6 million at June 30, 2024 — an increase of $2.9 million from the prior year — and a $4.7 million reduction in the district's total debt obligations.
Kylie McClintock of Cockburn & McClintock, LLC told the board that "No findings were noted for the financial statement audit for the current fiscal year ending June 30, 2024." The audit used generally accepted auditing standards and Government Auditing Standards.
The audit packet noted the district's General Fund net position is affected by Limited Tax Pension Bonds issued in 2002–03 to address the district's Public Employees Retirement System unfunded actuarial liability; the net position includes a reported Total Unrestricted Position of $4.2 million after accounting for the PERS bond obligation of $10.9 million. The board voted to accept the audit as presented.
