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Columbia Heights Public Schools Receives Favorable Financial Audit
A representative from the independent auditing firm of BerganKDV told the Columbia Heights School Board that District financial operations continue to be well-managed and consistent with national accounting standards. The results – in-line with audit reporting terminology of “Unmodified Opinion” – reflect a favorable financial audit for the fiscal year ending June 30, 2019.
BerganKDV Auditor Matt Mayer told the School Board at its Nov. 19 Work Session a team of independent auditors examined the District’s internal control operations, including management, accounting procedures, adherence to laws and government regulations, over a period of weeks.
The unrestricted fund balances are $4.4 million or 12.5 percent. This is slightly above the 6-12 percent targeted range.
“The ‘unmodified opinion’ report is the highest opinion we could receive which shows the commitment of fiscal responsibility by all CHPS staff,” said Director of Finance & Operations Denise Sundstrom.
“As a District, we prioritize managing taxpayer investment wisely and make challenging decisions each year to ensure this,” said Superintendent Kathy L. Kelly. “I am very satisfied with the findings of this year’s audit as they confirm our financial values and our commitment to stakeholders.”
Bergan KDV, a professional services firm specializing in complex business, financial and technology challenges, conducts approximately 60 school district and charter school audits annually, according to Assurance Partner Matthew Mayer. The firm, which has more than 40 years’ experience in governmental auditing, has seven offices in Minnesota and Iowa.
Consolidated Annual Financial Reports (CAFR) for Columbia Heights Public Schools from 2010 to present, are available online. For more information, contact Director of Finance & Operations Denise Sundstrom at 763-528-4502.