FHSD Earns Top Marks on Financial Audit

Posted on 12/22/2017
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Kerber, Eck, & Braeckel, certified public accountants, presented the Francis Howell School District's audit report on financial statements for the year ended June 30, 2017, to the Board of Education at the Dec. 21 meeting. The Board voted 7-0 to approve the report. 

The 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 FHSD is fairly presenting its financial statements in accordance with generally accepted accounting principles.

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.

Gratza thanked Chief Operating Officer Kevin Supple and Director of Finance Cindy Reilmann for their assistance 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 districts 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 each 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. 

The 2017 Auditor's Report is available to the public.

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