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Board accepts clean audit; auditors recommend procedural fixes
Summary
Auditors presented an unqualified (clean) opinion for fiscal 2025 and highlighted a GASB accounting change, recurring best‑practice comments (insurance exposure, unreconciled bank reconciliations) and recommended improved invoice approvals; the board approved the audit report.
The Seaside SD 10 School Board voted May 19 to accept the district's fiscal‑year 2025 audit, which auditors characterized as an "unqualified opinion," the highest rating an external audit can provide. Brian Thompson, audit team lead from PolyRogers, told the board the audit found no exceptions for state management standards and no findings of noncompliance for federal awards.
Thompson identified one significant audit matter: implementation of a new GASB standard changing how compensated absences (sick leave) will be presented going forward, and he flagged recurring best‑practice issues. "This essentially means it's a clean opinion," Thompson said, adding auditors found recurring items the district should address, including fidelity insurance exposure and instances where bank reconciliations and some disbursements lacked evidence of timely review and approval. The board moved and approved the audit report 'as presented.'
Board members asked for clarification on a budget variance: a special revenue fund showed expenditures that exceeded appropriations by $35,003.97. Auditors confirmed the figure reflected actual overspending compared with the budget and recommended that the board and administration monitor and track those spending categories closely. The administration said it would provide additional details and follow up as requested.
