Morgan County Board of Education audit finds no material weaknesses, shows net position increase

The Morgan County Board of Education received the independent audit for fiscal year 2024 at its June meeting, where the auditor reported no material weaknesses in internal control and compliance with federal program requirements.

The audit presenter, Erica Dolf of the contracted audit firm, told the board the audit produced three reports customary for a government audit and that the district showed an increase in net position of $35.9 million and an increase in the general fund of $17.9 million.

Why it matters: independent audits assess whether a district is meeting legal and financial reporting obligations and identify control weaknesses that could affect public funds. A finding of no material weaknesses indicates auditors did not identify major deficiencies that would affect the accuracy of financial statements.

Dolf summarized the audit work and results, saying there were “no material weaknesses and the board [was] compliant in all material respects with compliance requirements of the major federal programs.” Board members thanked the audit team for the report and its recommendations.

Board members discussed the summary and accepted the presentation; the superintendent and board chair noted appreciation for the auditors’ recommendations and the district’s financial condition. The board did not take additional formal action on the audit at the meeting beyond accepting the report.

The audit covers the fiscal year ending Sept. 30, 2024, and was presented to the board during the meeting's presentations section. The board indicated it will review the detailed management recommendations included in the auditor's reports.