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Newhall School District Receives Ninth 'Flawless' Financial Audit

Newhall School District Receives Ninth ‘Flawless’ Financial Audit

The Newhall School District received it’s ninth flawless audit is as many years, when accounting firm Vavrinek, Trine, Day and Co. submitted their report on Dec. 10 to the District Board for review, according to a district press release.

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The audit reviewed the district’s day-to-day financial transactions over the last year for their more than $50 million budget.

In addition, this is the first year that the audit included NSD’s expenditures and use of revenue under Measure E, the $60 million bond authorization approved by the voters in November 2011.

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“A flawless annual audit is a point of pride for the business department in the Newhall School District,” the press release said. “In these economic and political times the accounting and business functions of public agencies are more stressed than ever. Stories of misuse of public funds or questionable business practices occur all too often. Municipal spending has been subject to scrutiny and charter schools most often fail because of sloppy finances and weak fiscal management. So keeping track of the public’s dollars is even more important than ever.”

Superintendent Marc Winger said that the financial audit was evidence of the district’s commitment to excellence.

“We’re really proud of that department,” he said “It’s just one piece of the puzzle that makes this district great.”

The district typically closes their books in August, after the fiscal year ends in June. An auditing team examines their records during the fall. The audit reviewed 2012-2013 revenue and budgeting and long term debts and obligations.

Reviewing all assets and liabilities, budgeting and fund management, the audit is designed to assess the financial health of the district, according to the release.

Vavrinek, Trine, Day and Co. found no difficulties in performing the audit or disagreements with management. There were no “Audit Findings” or “Questioned Costs” in the audit report.

Assistant Superintendent of Business Ronna Wolcott attributed this success to the dedication of her employees.

“We have excellent business department staff members who meticulously track payroll, attendance, and every dollar from state, federal, and local sources,” she said. “The audit confirms the quality of their work in accounting for the financial business of the district.”

District Board President Brian Walters also expressed confidence in the Business Department.

“The Board is very involved in monitoring the district’s budget, fiscal health and priorities,” he said. “Our Business Department provides accurate and timely information to us and we trust their outstanding work. At the same time, it’s important to verify what is done in an auditors’ annual report and, once again, we found that our trust in our department is warranted.”

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Source: Santa Clarita News

Newhall School District Receives Ninth ‘Flawless’ Financial Audit

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