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Auditors outline 2026 fiscal-year audit schedule for Barker Central School District
Summary
Representatives from Lumsden and McCormick presented the district's June 30, 2026 fiscal-year audit plan on July 1, saying field work is expected the week of Aug. 10 and a draft report in September; auditors warned that a new $1,000,000 Uniform Guidance threshold could trigger a single audit.
Mr. Seth D. Hennard of auditing firm Lumsden and McCormick presented an overview of the Barker Central School District's June 30, 2026 fiscal year-end financial audit at the Audit Committee meeting on July 1. He reviewed audit responsibilities, deliverables and the schedule, saying the "field work [is] finalized the week of August 10th and [the] draft [is] available for review during September."
Hennard told the committee the change in federal Uniform Guidance raises a new $1,000,000 threshold "which could result in a single audit for the District." He also highlighted upcoming accounting changes under GASB 103 and reviewed the distinction between required supplementary information (RSI) and supplementary information (SI), noting that large variances between original budget and final results under RSI will require explanation. Dr. Reimer asked what constitutes a "large variance"; Hennard said there is no defined ratio but that materially significant amendments should be disclosed, and Dr. Reimer noted last year's Special Education budget change as a possible example.
The auditors said field work is expected to be completed the week of Aug. 10 and a draft report would be available in September; the committee did not raise additional questions at the meeting.
