Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Seaside SD 10 audit team reports unqualified (clean) opinion; board approves audit
Summary
The districtreceived an unqualified opinion for the 2022–24 audit, with auditors citing no material weaknesses and a small set of best-practice recommendations (fidelity insurance coverage and 403(d) administrative items); the board approved the audit by voice vote.
The Seaside SD 10 school board approved the district audit after auditors reported an unqualified opinion for the 2022–24 financial statements.
"We have an unqualified opinion," said Brian Thompson, audit team lead representing Polly Rogers, noting auditors found no material weaknesses and will not issue a management letter. Thompson said the audit is not fully finalized but that final reviews are underway before submission to the secretary of state.
Thompson flagged two recurring best-practice items for the board: that some district cash accounts exceed fidelity-insurance coverage limits and that administrative tracking for IRS 403(d) compliance (retirement plan administrative items) needs attention. He described these as comments rather than significant deficiencies. Board members asked no substantive follow-up questions during the presentation.
A motion to approve the audit report was made and seconded. The board approved the report by voice vote; no roll-call tally was recorded in the transcript.
The approval authorizes the district to finalize the paperwork for state and federal filing. Thompson said once his partner completes a final review the report will be submitted to the secretary of state and uploaded as required.
