The school district received the highest possible rating from its external auditors -- an "unqualified opinion." Susan Barossi and Chris Kopf, partners in the accounting firm O'Connor Davies Munns & Dobbins, presented this year's report to the public and the Board of Education.Their report included a summary of revenues and expenditures, a description of the different types of funds, an explanation of new types of reserves, post-retirement obligations, and a review of minor control deficiencies. The latter involved segregation of duties with respect to the Treasurer's function, and the auditor noted that compensating controls were in place. The report also called for clearer procedures for addressing five inactive special purpose funds (gifts to the school) and two inactive clubs.In conclusion Ms. Barossi stated,
"Despite a difficult economy, the district is in very good financial shape. The district has been able to replenish reserves and maintain a healthy fund balance."In related activity, the Board renewed its contract with Accume Partners, its internal auditors. The Board received their report as well, which focused on human resources and payroll.
