Jefferson Schools receive ‘clean’ audit

Staff report

Auditor of State Dave Yost announced Tuesday that the Jefferson Local School District received the Auditor of State Award for the district having a “clean” audit report for the fiscal year ending on June 30, 2017.

According to the press statement released by the Auditor of State’s office, the award is presented to a school district or local government body at the completion of a financial audit that meets the following criteria:

• The entity must file timely financial reports with the Auditor of State’s office in accordance with GAAP (Generally Accepted Accounting Principles)

• The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or questioned costs

The entity’s management letter contains no comments related to:

• Ethics referrals

• Questioned costs less than $10,000

• Lack of timely report submission

• Reconciliation

• Failure to obtain a timely Single Audit

• Findings for recovery less than $100

• Public meetings or public records

• No other financial or other concerns exist that involve eligible entity.

According to a statement given within the report, Jefferson Local School District has committed itself to educational and financial excellence for many years — the district implements budgeting and internal controls to safeguard assets and monitor the district’s progress, the report said. The board of education and administration closely monitors the five-year forecast of the general fund as a means to manage resources effectively, it said.

The district relies upon the support of its community for the majority of its operations, and that it will continue to work diligently to plan expenses, staying carefully within that five-year financial plan, according to the report.

Key financial highlights for fiscal year 2017 are include:

In total, net position of governmental activities decreased $1,905,689 which represents a 22.72 percent decrease from 2016s net position.

The District had $17,768,108 in expenses related to governmental activities; $2,565,922 of these expenses was offset by program specific charges for services, grants or contributions. General revenues supporting governmental activities (primarily taxes and unrestricted grants and entitlements) of $13,296,497 were not adequate to provide for these programs.

The District’s major governmental funds are the general fund and debt service fund. The general fund had $13,574,943 in revenues and $14,490,826 in expenditures and other financing uses. During fiscal year 2017, the general fund’s fund balance decreased $915,883 from a fund balance of $7,603,399 to $6,687,516.

The entire report can be found online at:

Staff report