District receives clean audit for 2017-18 finances
District receives clean audit for 2017-18 finances
Posted on 01/11/2019

Clean Audit GraphicIndependent auditing firm Malloy, Montague, Karnowski, Radosevich & Co., PA, (MMKR) has given School District 197 a “clean opinion” of its finances for 2017-18.

James Eichten of MMKR presented the 2017-18 Audit Report at a School Board meeting on December 17. Overall, MMKR has issued a “clean opinion” — the highest rating an auditor can give — on the district’s basic financial statements, emphasizing good record keeping and financial accounting. The district has received the same rating for several years in a row.

“The financial results adhere to the budget, and overall the audit went very smoothly,” Eichten said. “We always find the financial record keeping here to be exceptional, above and beyond what you would see at a comparable organization.”

Eichten commended the district and school board for their budgeting process and efforts to manage expenses, stating that expenditures came in on budget last year. In fact, the district came within $125,000 of its budget estimate, something few districts are able to do.

“The district is committed to the responsible and transparent use of our resources,” said Brian Schultz, the district’s Director of Finance. “We work hard to allocate funds in ways that will support kids and help the district achieve its educational goals, but are also wise and sustainable.”

The full audit report is available on the district’s website at www.isd197.org/district/finance.