School Board Gets Clean Bill Of Financial Health

The school district’s 2020 financial reporting was given the thumb’s-up on February 25 by district auditors.

Districts must conduct audits of their financial reports each year, and a report submitted to the Board of Education along with a list of recommendations, if any.

District auditor Gary Vinci told the Board at their meeting that he was “happy to report that the opinion … on your finances was an unmodified opinion, which … is a clean opinion, meaning that you can attest to your financial statements,” he said.

“It’s the highest level of opinion that can be rendered,” Vinci said.

“This is a continuation of strong financial statements that you have maintained,” Vinci said. “At the end of June, the financial condition of the district was very strong. You had in excess of $22 million in reserves and surplus.”

“Most of the money was in a capital reserve, maintenance reserve and emergency reserve that was recently created,” he said. “The Board should be commended for that guidance they were providing the administration, because it’s very, very important to maintain those levels of reserves for your future needs.”

Vinci said that most of the “handful” of findings they reported “consisted of compliance issues, had nothing to do with the financial statements of the Board.”

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