North Tama County Community School District. TELEGRAPH FILE PHOTO

On Thursday, Dec, 14, Nolte, Cornman & Johnson P.C. released an audit report on the North Tama County Community School District in Traer, lowa.

Financial highlights

The District’s revenues totaled $7,592,044 for the year ended June 30, 2022, a 1.93% increase from the prior year. Expenses for District operations for the year ended June 30, 2022 totaled $6,945.218, a 0.21% decrease. The increase in revenues was contributed to by an increase in operaling grants, contributions and restricted interest revenues. while the decrease in exoenses is due to the decrease in the instruction costs incurred compared to the prior year.

Audit findings

Note, Cornman & Johnson P.C. reported six findings found on pages 69-73 of the report. The

finding addresses the issue of lack of segregation of duties, supporting documentation for credit card purchases, certified budget, questionable expenditures, board minutes, and supplementary weighting.

Note, Cornman & Johnson P.C. provided the District with recommendations to address the findings.

Two of the six above mentioned findings are repeated from the prior year. The Community School District’s Board of Education has a fiduciary responsibility to provide oversight of the Community School Districl’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 in the Office of the Auditor of State and the District Secretary’s office, and on the Auditor of State’s web site at http://auditor.iowa.gov/audit-reports