KCSD Financial Audit Shows Continued Strong Financial Management
Dec. 2, 2011

• View the audit report (scroll down to the Audit section)

The Kershaw County School District again received “unqualified opinions” - the top results possible - during its annual financial audit as completed by an external independent CPA firm.

Larry Montague of Burkett, Burkett & Burkett presented the firm’s audit of the district’s 2010-11 financial statements as required by law at the Nov. 29 school board meeting.

The firm issued “unqualified opinions” for the financial statements and for compliance with major federal awards as well as a “no deficiencies” opinion for the internal controls over financial reporting.

Montague said the audit findings are “the best they can be.”

“Because we have had clean audits for so long, we may take these results for granted, but they are a credit to the hours of tireless work by many employees, especially those in our financial department,” said Kershaw County School District Superintendent Frank Morgan. “In spite of an unpredicted, volatile time over the past three years, we have had strong stewardship of the taxpayer dollars.”

Montague said that although the school board faced adverse conditions and circumstances, it was a real credit to the school board and district that needed actions were taken to decrease spending and greatly improve the fund balance. He explained that this allowed the district to decrease its Tax Anticipation Note amount from the previous year which provided “direct savings to the district.”

The auditor praised the district’s school food service operations for absorbing over $230,000 in indirect costs and not having to raise the price for student meals while only slightly increasing the adult charge. Food service operations are a separate budget from the district’s general operations. Like other separate accounts, money from food service cannot be used to fund general fund operations such as salaries or classroom materials.

For more information: Mary Anne Byrd, 432-8416 ext. 1229