West Linn-Wilsonville School District completes audit, receives 'clean' financial review
Following considerable delay, the West Linn-Wilsonville School District's financial audit is complete and received a positive sign of approval.
During the Aug. 11 school board work session, Pauly Rogers & Co. presented the completed 2020-21 audit to the board and district staff.
The audit was conducted using samples from the district's financial statements to finalize a "fair presentation" of the district's compliance with the Oregon Municipal Audit Law and other related administrative regulations.
The completed audit reported no issues in any of the district's finances and the state issued its funding.
An audit is a mandatory aspect of a school district's financial evaluation. In Oregon, each public school district must file and complete a copy of its audit report with the state within six months of the end of the fiscal year.
What led to this point?
The school district needed to file its financial audit in December 2021 to the Oregon Department of Education; however, it did not do so because of complications with its auditing firm.
Funds for the next academic year were then postponed. At the time, Superintendent Kathy Ludwig said that would not impact the district as it had enough money in reserve.
The district initially hired Portland accounting company Talbot Korvola & Warwick to complete the audit, but after uncertainty about when the financial form would be complete, the district terminated its contract with the firm in April and hired Tigard company Pauly Rogers & Co.
Pauly Rogers formerly worked with the district to complete numerous audits. The firm started the new financial audit in May and reached its conclusions earlier this month.
The completed audit reported no issues or exceptions in any findings, giving the district a "clean" opinion without reservations.
In February, the district was awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada for the fiscal year ending in June 2020. The certificate is considered the highest form of achievement on a governmental level and this was the district's fourth time receiving the award.
In a letter to the community, the district stated that the 2021 financial audit is similar to its prior audits regarding the positive outcome.
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