Allamakee Community School District audit report released

Nolte, Comman & Johnson P.C., a Certified Public Accounting firm out of Newton, has released an audit report on the Allamakee Community School District in Waukon. A copy of the audit report is available for review on the Auditor of State’s web site at https://auditor.iowa.gov/audit-reports.

The District’s revenues totaled $16,426,392 for the year ended June 30, 2019, a 2.52% increase from the prior year. Expenses for District operations for the year ended June 30, 2019 totaled $16,553,419, which was a 3.99% increase from the prior year. Unrestricted state grants increased $798,899 contributing to the increase in revenues.

The increase in expenses occurred primarily in the support services function.

Nolte, Comman & Johnson P.C. reported three findings related to segregation of duties, contract signatures and revenue sharing. They are found on pages 63 through 68 of the audit report. Nolte, Cornman & Johnson P.C. provided the District with recommendations to address each of the findings.

The Community School District’s Board of Education has a fiduciary responsibility to provide oversight of the Community School District’s operations and financial transactions. Oversight is typically defined as the “watchful and responsible care” a governing body exercises in its fiduciary capacity.
 

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