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Auditors give Santa Rosa ISD an unmodified opinion; report flags material weaknesses and $1.6M drop in net position
Summary
Carr, Riggs & Ingram presented the district's FY2024 Annual Comprehensive Financial Report and issued an unmodified opinion on the financial statements while reporting material weaknesses in internal controls and a $1,614,158 decrease in net position.
Jonathan Hall, CPA, partner at Carr, Riggs & Ingram, told the Santa Rosa Independent School District Board on Nov. 20 that the firm issued an unmodified opinion on the district's FY2024 financial statements but also reported material weaknesses in internal control and audit findings that must be disclosed under federal uniform guidance.
"This report is intended solely for the use of the Board of Trustees and management," Hall said as he introduced the Annual Comprehensive Financial Report. The firm's slides and report show the district's total governmental net position declined to $12,078,749 at June 30, 2024, down $1,614,158 from the prior year.
Hall summarized the audit components: a financial-statement audit (governmental activities and major funds) and the Audit of Federal Awards (Single Audit). The auditors identified one major federal program this year—Assistance Listing Number 84.287, the Twenty-First Century Community Learning Centers program—and reported total federal funds expended of $4.8 million for FY2024 (down from $6.1 million the prior year). The audit work produced three formal reports, including an Independent Auditor's Report, an Independent Auditor's Report on internal control and compliance under Government Auditing Standards, and a Uniform Guidance report on compliance for the major program.
Slides shown to the board listed detailed financial highlights: current assets and other assets of approximately $15.29 million, capital assets net of roughly $24.01 million, and long-term liabilities including general obligation bonds and leases. The auditors also presented schedules of capital assets, depreciation, and long-term debt changes for FY2024.
The report and presentation do not prescribe board action; the audit was included on the consent agenda and was approved as part of that package. The FY2024 ACFR will be posted and is available to the board and management per the auditor's opening slide.
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