Francis Howell School District Earns Top Marks on Financial Audit

Posted on 12/16/2016
Francis Howell School District Earns Top Marks on Financial Audit

Kerber, Eck, & Braeckel, certified public accountants, presented the District's audit report on financial statements for the year ended June 30, 2016, to the Board of Education at its Dec. 15 meeting. The board voted 7-0 to approve the report.

The Francis Howell School District has once again received an unmodified opinion on its audited financial statements. The unmodified opinion is the best a school district can receive, and means the District is fairly presenting its financial statements in accordance with generally accepted accounting principles and is maintaining good internal controls over District finances.

Kerber, Eck, & Braeckel issued opinions on the District's financial statements and budgetary process, major federal programs, and compliance with Missouri laws and regulations, the firm's Rick Gratza told the Board. He stated that the results were "indicative of sound fiscal management."

Gratza thanked Chief
Operating Officer Kevin Supple and Director of Finance Cindy Reilmann for their cooperation during the audit.

According to the rules of the Department of Elementary and Secondary Education (5 CSR 30-4.030), each board of education is responsible for procuring audit services from an independent auditor who holds a current permit to practice public accounting in the state of Missouri. All district that expend a total amount of federal awards equal to or in excess of the amount specified in OMB Circular A-133 shall either have a single audit or a program-specific audit made for such fiscal year in accordance with the requirements of The Single Audit Act Amendments of 1996, OMB Circular A-133 and the Government Auditing Standards. The report from the independent auditor must be submitted to DESE on an annual basis. Failure to do so will result in the withholding of state funding until such time as the audit report is provided.



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