Cornwell, Frideres, Maher & Associates, P.L.C., CPA's recently released an audit report on the Clarion-Goldfield-Dows Community School District.
Financial Highlights:
The District's revenues totaled $15,466,993 for the year ended June 30, 2020, a 0.9% decrease from the prior year. Expenses for the District operations for the year ended June 30, 2020 totaled $15,878,929, a 4.6% increase from the prior year.
Audit Findings:
Cornwell, Frideres, Maher & Associates, P.L.C. reported four findings related to the receipt and expenditure of taxpayer funds. They are found on pages 71 through 76 of the audit report. The findings address issues such as a lack of segregation of duties and deficit net position in the nutrition fund. Cornwell, Frideres, Maher & Associates, P.L.C. provided the District with recommendations to address each of the findings.
The Clarion-Goldfield-Dows Community School District's Board of Education has a fiduciary responsibility to provide oversight of the Clarion-Goldfield-Dows Community School 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 on the Auditor of State's web site at https://auditor.iowa.gov/audit-reports.
