Susquenita School District auditor, Klacick and Associates, reported at the board’s Nov. 18 meeting, that the district again received an unqualified, or clean, opinion on its financial statements and federal grant compliance. He praised The business office was praised for moving the audit process up to November, several months earlier than in previous years, giving the district timelier information for financial planning.
As of June 30, the district’s general fund balance stood at just over $18 million, though much of that total is committed or assigned to future projects and expenses. In the general fund, Susquenita took in about $39.4 million in revenue and spent about $40.4 million, resulting in a planned drawdown of just under $1 million.
The auditor explained that a prior year restatement of a little more than $1 million reflects the final cleanup of older balance sheet accounts. A much larger restatement was booked last year as the district and firm unwound long standing accounting issues…