Auditor: District ended year with $5.4 million cash, no internal control issues

An external auditor told the Echo SD 5 School Board that the district received an unmodified (clean) audit opinion and finished the year with about $5,400,000 in cash, up from roughly $4,300,000 the prior year.

"The district ended the year with about $5,400,000 in cash versus 4,300,000 the previous year," the auditor said, summarizing key balances. Of the total, approximately $3,300,000 was in the general fund (about $2,800,000 unassigned and $487,000 assigned for the 2024–25 budget). The capital projects fund held about $757,000 at year‑end; that fund was reduced by a $750,000 land purchase completed after the fiscal year closed. The auditor also reported $83,000 in capital asset additions offset by $513,000 in depreciation and said the district’s outstanding debt decreased by about $636,000 to roughly $8,100,000 as of June 30, 2024.

The auditor said there were no reportable internal control deficiencies or disagreements with management. As a procedural recommendation, the auditor asked the district to attach mileage support (for example, Google Maps directions) to reimbursement claims to reduce IRS risk and avoid extra back‑and‑forth for business managers.

Board members did not raise questions that led to changes in the audit findings. The auditor offered to provide hard copies and electronic distributions of the audit materials to trustees. The board is expected to retain the auditor’s recommendations when preparing next year’s fiscal policies and reimbursements guidance.