Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
District audit returns clean opinion; $1.8 million compensated‑absence liability noted
Summary
At the board meeting, the district’s auditors issued an unmodified (clean) opinion on the financial statements and staff noted an accrued compensated‑absence liability of $1,800,000 and other long‑term figures; board accepted the audit.
The board heard the district audit presentation and accepted the auditors' findings during the meeting. Presenter (S1) told the board the audit included an unmodified opinion on the basic financial statements and reported no federal compliance findings, and the board moved to accept the audit and carried the motion by voice vote.
Presenter (S1) summarized several key financial details: adoption of GASB 101 for compensated absences leading to a recorded liability of $1,800,000; a referenced long‑term financing figure of approximately $10,000,000 related to bond/general obligation items; and fund‑level summaries showing the state school fund at about $17,000,000 and a year‑end general fund ending balance near $2,700,000. "They have given a clean opinion with no reservation," Presenter said while reviewing the audit letter. The board asked follow‑up questions about the timeline for remediating any potential findings; staff explained that if a material weakness were found the district would present a corrective plan at the next regular meeting and the finding remains on the audit report for two years.
