On Tuesday, Dec. 8, the Archuleta School District (ASD) Board of Education held a work session and regular meeting, during which the 2015 audit report was presented by Tim Mayberry of Holscher, Mayberry and Company.
According to ASD Financial Director Michael Hodgson, “I am happy with the audit because we received an unqualified opinion. The auditors were very thorough in their examination, but they were also very helpful in providing positive feedback about the changes we have made to improve our financial controls and reporting as well as providing additional input on how we could continue to improve.”
As Hodgson stated, the audit was “unqualified,” or found no material weaknesses or significant deficiencies relative to the internal control of the district.
Some notable changes documented in the audit report include:
• The district’s general fund operating deficit decreased from $331,008 in 2013-14, to $203,396 in 2014-15.
• Total expenditures decreased from $19,371,265 in 2013-14, to $13,189,208 in 2014-15.
• The ASD’s total assets increased by $55,076 from 2013-14 to 2014-15.
• The district’s proportionate share of the state retirement system’s liability totaled $21,683,812.
According to Hodgson, the state retirement liability is a new calculation required by new national accounting standards.
Mayberry emphasized that this calculation does not affect the district’s operations as the Public Employees’ Retirement Association’s (PERA) liability has existed for years.
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