Nolte, Cornman & Johnson P.C. has released an audit report on Greene County Community School District in Jefferson.
FINANCIAL HIGHLIGHTS: The district’s revenues totaled $23,514,925 for the year ended June 30, 2022, a 4.01 percent increase from the prior year. Expenses for district operations for the year ended June 30, 2022 totaled $19,783,384, a 2.47 percent increase from the prior year. A significant increase in revenues from federal grants was the primary reason for the increase in total revenues. The largest increase in total expenses occurred in the support services functional area.
AUDIT FINDINGS: Nolte, Cornman & Johnson P.C. reported five findings. The findings address issues related to a lack of segregation of duties, expenditures exceeding the certified budget, board minutes not including the votes of each board member when entering closed session, certified enrollment variances and inactive Student Activity Fund accounts.
Nolte, Cornman & Johnson provided the district with recommendations to address these findings.
Three of the five findings discussed above are repeated from the prior year. The community school district’s board of education has a fiduciary responsibility to provide oversight of the district’s operations and financial transactions. Oversight is typically defined as the “watchful and responsible care” a governing body exercises in its fiduciary capacity.
A copy of the audit report is available for review on the Auditor of State’s web site at https://auditor.iowa.qov/audit-reports. ~courtesy of The Scranton Journal
