03/09/23: Area Happenings & Accomplishments

CC/E audit report released

Schnurr & Company, LLP, Certified Public Accountants and Consultants, has released an audit report on the Clay Central/Everly Community School District in Royal.

Schnurr & Company, LLP, reported that for the year ended June 30, 2022 the school had revenues of $4,870,129, a 12.79 percent increase from the prior year. Operating expenses totaled $4,428,057, a 1.33 percent decrease from the prior year. The significant increase in revenues is attributed to an increase in state and federal sources. The decrease in expenses is attributed to a decrease in capital outlay expenditures.

The auditors reported one finding related to the receipt and expenditure of taxpayer funds. The finding is on page 58 of the report. The finding addresses a lack of segregation of duties. A recommendation was provided to the district to address the finding.

The finding discussed above is repeated from the prior year. The board of directors has a “fiduciary responsibility to provide oversight of the district’s operations and financial transactions.” Oversight is typically defined as the “watchful and responsible care a governing body exercises in its fiduciary capacity.”

A copy of the audit report is available for review on the Auditor of State’s website at bttp://auditor.iowagove/reports/index.html.

Clay County audit report for FY22

Winther, Stave & Co., LLP has released an audit report on Clay County for the fiscal year ended June 30, 2022.

The county had local tax revenue of $36,165,909 for the year, which included $2,929,766 in tax credits from the state. The county forwarded $26,762,631 of the local tax revenue to the townships, school districts, cities, and other taxing bodies in the county.

The county retained $9,403,278 of local tax revenue to finance county operations, a 1.3 percent increase from the prior year. Other revenues included charges for service of $1,521,037, operating and capital grants, contributions and restricted interest of $5,683,375, unrestricted investment earnings of $213,123, other financing sources of $267,251 and other general revenues of $2,535,937.

Expenses for county operations totaled $16,971,624, a 35.5 percent decrease from the prior year. Expenses included $7,114,513 for roads and transportation, $3,282,339 for public safety and legal services, $2,103,475 for administration, $853,817 for non-program and $3,617,480 for other functions.

Findings were noted related to the receipt and expenditure of taxpayer funds. The findings address issues of lack of adequate segregation of duties, financial reporting and budgeting. The county was provided with recommendations regarding the findings.

A copy of the audit report is available for review in the County Auditor’s Office, in the Office of Auditor of State and on the Auditor of State’s website at http://auditor.iowa.gov/reports/audit-reports.