CUSD 200 accepts 2024–25 audit with unmodified opinion; auditors cite strong controls

The CUSD 200 Board of Education on Dec. 10 accepted the district's 2024'25 financial audit and financial report as prepared by Lauterbach and Amen LLP, receiving an unmodified opinion from the independent audit team.

Matt Baron, a partner with the auditing firm, told the board the firm performed entrance and fieldwork procedures, tested significant cycles (cash, disbursements, payroll and student activities) and issued what he described as the highest available opinion: an unmodified opinion that the district's financial statements are in compliance with government accounting standards and "are what they say they are." He added the firm issued a management letter with informational comments and no internal control findings.

Board members asked about audit scope and whether the firm identified areas that need more attention. Baron said the audit included walkthroughs of internal controls and testing but was not a forensic audit geared to detect fraud; the auditors found a solid internal control framework with segregation of duties and appropriate sign-offs. He noted an industry-level recommendation on IT security as part of the management letter and urged continued vigilance against growing cyber threats.

District staff clarified items reflected as funds over budget. The business office said timing of purchases, the use of TIF dollars (about $1,700,000) to pay for security upgrades in fiscal 2025 and private tuition costs that ran roughly $1,000,000 over budget contributed to the presentation of a deficit fund balance in parts of the audit. Staff said the student activity funds were not previously included in the budget form and will be corrected in the amended budget, and they expect to see a different presentation in the next audit cycle.

The motion to accept the audit was moved by Ms. Kulevitz and seconded by Mr. Long and carried on a roll call vote.