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No glaring problems found in SSD audit

May 3, 2012


An audit conducted by Fortenberry and Ballard found no major issues with Starkville School District’s fiscal year 2010 financial records.
The report, which was presented to administrators and SSD Board of Trustees members Thursday, was a continuation of the district’s efforts to catch up on previous year-end audits which had fallen behind schedule.
In FY ’10, total net assets increased $148,757, which represents a 1 percent increase from fiscal year 2009, the audit stated.

General revenues for the district amounted to $31.94 million for fiscal year 2010 and $32.59 million for fiscal year 2009. The district had $43.11 million and $42.93 million respectively for fiscal years 2010 and 2009; only $12 million for 2010 and $11.03 million of these expenses were offset by program-specific charges for services, grants and contributions. General revenues from the two fiscal years were adequate enough to provide for these programs. Also, the school district’s general fund balanced decreased by $233,312 from 2009 to 2010, and decreased $415,218 from 2008 to 2009.

Three minor issues were reported to administrators, which dealt with how financial entries are recorded after closeout dates and general record keeping. SSD Comptroller Rob Logan said officials were already in the process of addressing those issues.

The auditing firm is currently working on FY ’11’s financial statements and should have a full report ready for the board after the new year. SSD Board President Keith Coble said he was pleased with Thursday’s report and looks forward to the date when the school district is completely caught up on its financial statements.

“Today’s report was a move in the right direction, but we will be fully satisfied when we get the backlog all out of the way,” Coble said. “We’re always happy not to hear that (an auditor) has found something that someone has done inappropriately.”

Assistant Superintendent Beth Sewell said the outside review of district finances provides administrators with better record-keeping ideas.
“We’re very pleased with the findings, and we’ve been working very hard to catch up and act on any suggestions,” Sewell said. “These audits always provides us with suggestions on how to improve.”

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