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External audit returns unqualified opinion; district fund balances reported above minimums
Summary
Board member Ed Corona reported the district’s external audit found an unqualified opinion; the report noted prior recommendations were satisfied and that total fund balances are about 20% of expenditures with unassigned fund balances at the legal limit of 4%.
Ed Corona presented the high school and district financial overview and reported on the annual external audit. "Alan Yu of Cullinanowski LLC presented the board with an unqualified opinion, which is the best you can have," Corona said, and he added that prior audit recommendations have been revisited and addressed.
Corona reported the district’s total fund balances are roughly 20% of total expenditures and noted the district’s unassigned fund balance is at the legal limit of 4%. He characterized the financial position as "very good," noting that food-service had a large surplus partly due to state free-lunch programs.
