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Audit shows $4.27M unassigned fund balance; auditor urges separation of reconciliation duties
Summary
Kerber Rose auditor reported the district's unassigned general fund balance was $4,269,670 on June 30, 2024 (about 40% of operating expenditures) and recommended that bank reconciliation be reviewed by someone other than the preparer.
Greg Pitel of Kerber Rose presented the district audit in open session, reporting: "On June 30, 2024, the District’s unassigned general fund balance totaled $4,269,670 which is about 40% of the general fund operating expenditures." The auditor also recommended that the person who prepares or performs reconciliations not be the same person who later checks them, suggesting an additional review by a board member or another staffer.
Board members asked follow-up questions about Fund 46 and other technical items during the virtual presentation. The district's Treasurer, Lana Nelson, later presented the Treasurer's Report showing cash on hand of $3,030,564.17; the board accepted that report as presented. The audit and the Treasurer's figures together provide the board with the current snapshot of district liquidity and reserve levels.
The presentation did not include a detailed list of recommended corrective actions beyond the segregation-of-duties comment; administrators and board members are positioned to decide if internal-control changes will be implemented before the next audit cycle.
