Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Audit committee reports no material weaknesses in Geneseo district audit
Summary
The audit committee told the board the district's audit showed no material weaknesses or significant deficiencies and praised conservative budgeting and good internal controls; a corrective action plan addresses minor procedural recommendations.
A representative from the audit committee reported on the firm's review and told the board the audit "revealed no material weaknesses" and found "good internal controls" and no significant deficiencies. The committee noted the district has established reserves and is following conservative budgeting practices.
Minor procedural recommendations were made and a corrective action plan has been submitted; the audit committee reviewed the revenue status report, appropriation report and collateral report and discussed the budget development calendar.
