Allamakee Community School District annual audit report released

Nolte, Cornman & Johnson P.C. out of Newton has released an audit report on the Allamakee Community School District in Waukon.

The District’s revenues totaled $18,053,846 for the year ended June 30, 2022, a 3.97% increase from the prior year. Expenses for District operations for the year ended June 30, 2022 totaled $15,841,999, a 3.41% decrease from the prior year. The increase in total revenues was due in part to increases in revenue from operating grants, contributions and restricted interest compared to the prior year. The decrease in total expenses occurred primarily in the instruction function.

Nolte, Cornman & Johnson P.C. reported three findings that are further explained on pages 67 and 71 of this report. The findings address issues such as a lack of segregation of duties and supplemental weighting. Nolte, Cornman & Johnson P.C. provided the District with recommendations to address the findings.

One of the three findings discussed above is repeated from the prior year. The Allamakee Community School District’s Board of Education has a fiduciary responsibility to provide oversight of the 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.

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.