TRAER – Note, Cornman & Johnson P.C. recently released an audit report on the North Tama County Community School District.

The District’s revenues totaled $7,931,478 for the year ended June 30, 2024 – a 0.84% increase from the prior year. Expenses for District operations for the year ended June 30, 2024 totaled $8,579,076 – a 9.01% increase. The increase in revenues was contributed to by an increase in charges for service revenues, while the increase in expenses is due to the increase in the instruction costs incurred compared to the prior year.

The auditor reported eight findings found on pages 65-69 of the report. The findings address segregation of duties, supporting documentation for purchases, bank reconciliations, certified budget, travel expenses (mileage reimbursements for travel not being reimbursed at the rate specified in the Board Policy), certified enrollment (overstated by 1.00 student), supplementary weighting (number certified was overstated by 0.176), and financial condition (general fund reported a deficit unassigned fund balance of $336,357).

The district was provided with recommendations to address the findings. Five of the eight above mentioned findings are repeated from the prior year.

A copy of the audit report is available for review in the North Tama district secretary’s office and on the Auditor of State’s website by visiting https://www.auditor.iowa.gov/reports/file/81776.pdf.