The North Tama County Community School District located at 605 Walnut Street in Traer, Iowa. TAMA-GRUNDY PUBLISHING FILE PHOTO

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

Financial highlights

The District’s revenues totaled $9,380,088 for the year ended June 30, 2025 – an 18.01% increase from the prior year. Expenses for District operations for the year ended June 30, 2025 totaled $8,460,905 – a 1.38% decrease. The increase in revenues was contributed to by an increase in property tax revenues, while the decrease in expenses is due to the decrease in instruction and support services costs incurred compared to the prior year.

Audit findings

Nolto, Cornman & Johnson P.C. reported six findings found on pages 65-88 of this report. The finding addresses the issue related to segregation of duties, supporting documentation for purchases, certified budget, questionable expenditures, certified enrollment and financial condition. Conman & Johnson P.C. provided the District with recommendations to address the findings.

Five of the six mentioned findings are repeated from the prior year. The district’s Board of Education has a fiduciary responsibility to provide oversight of the district’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, the District Secretary’s office, and on the Auditor of State’s website at https://www.auditor.iowa.gov/reports/file/85161.pdf.