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District auditor gives Prairieview a clean opinion; superintendent flags $18M in borrowing
Summary
Gorenz and Associates presented a clean SY 23-24 audit, and Superintendent Dr. Wise said the District has borrowed about $18 million for referendum and Health Life Safety projects; Financial Profile remains at 2 based on past data.
The District's auditor, Kyle Hendrickson of Gorenz and Associates, presented the SY 23-24 audit and gave the district a clean opinion, saying referendum proceeds were used to begin building the educational program and improve the district's fund balance.
Superintendent Dr. Wise told the board the District has borrowed approximately $18 million to fund referendum projects and address Health Life Safety needs originating in 2021. He said remaining referendum funds would be used for personnel, fund balance and facilities and that future facility improvements will be financed through debt certificates and health life safety bonds with annual payments funded by referendum proceeds.
Dr. Wise also discussed the Illinois School District Financial Profile, noting the district's published score of 2 reflects the district's financial position more than a year ago. He said ongoing increases in fund balances should improve the Profile in subsequent annual reports.
The board unanimously approved the SY 23-24 audit in a motion by Doug Wiley, seconded by Brian Liedtke. The vote was recorded as Yea: 6, Nay: 0, Absent: 1.
