[NSD] – A flawless annual audit is a point of pride for the business department in the Newhall School District. 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.
Annual audits of the funds entrusted to a school district are one way the public can verify the proper use and tracking of the taxpayers’ dollars. Newhall School District’s annual analysis is designed to provide our citizens, taxpayers, students, and investors and creditors with a general overview of the District’s finances and to show the District’s accountability for the money it receives.
For the last nine years the Newhall School District has received flawless audits from external auditing firms.
While the fiscal year ends on June 30th, school districts close their books sometime in August and an external auditing team examines them in the fall. The results are then presented to the Governing Board of the district. The Annual Audit for the Newhall School District was presented for board review on December 10th. The audit reviews 2012-2013 revenue and budgeting and the long term debts and obligations of the District. This year the audit included revenue and expenditures from Measure E, the district’s $60 million bond authorization approved by the voters in November 2011.
Reviewing all assets and liabilities, budgeting and fund management, the audit is designed to assess the financial health of the district. The CPA firm of Vavrinek, Trine, Day & Co. found no difficulties in performing the audit or disagreements with management. There were no “Audit Findings” or “Questioned Costs” in the audit report.
“We have excellent business department staff members who meticulously track payroll, attendance, and every dollar from state, federal, and local sources,” said Ronna Wolcott, Assistant Superintendent of Business for the 7,000 student district. “The audit confirms the quality of their work in accounting for the financial business of the district.”
“The Board is very involved in monitoring the district’s budget, fiscal health and priorities,” stated Brian Walters, President of the school board. “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.”