Nolte, Cornman & Johnson P .C. released an audit report on the Baxter Community School District.
FINANCIAL HIGHLIGHTS:
The District’s revenues totaled $5,816,736 for the year ended June 30, 2020, a 3.28 percent decrease from the prior year. Expenses for District operations for the year ended June 30, 2020 totaled $6,135,235, a 1.02 percent decrease from the prior year. The decrease in revenues is due primarily to a decrease in charges for service. The decrease in expenses is due primarily due to a decrease in support service expenditures.
AUDIT FINDINGS:
Nolte, Cornman, & Johnson P.C. reported three findings found on pages 60-62 of this report. The findings address issues such as a lack of segregation of duties, questionable expenditures and supplementary weighting. Nolte, Cornman & Johnson P.C. provided the District with recommendations to address each of the findings.
Two of the three findings discussed above with relation to the District are repeated from the prior year. The Community School District’s Board of Education has a fiduciary responsibility to provide oversight of the Community School 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 website at https:/lauditor.iowa.gov/audit-reports.