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Van Maanen, Sietstra, Meyer & Nikkel, PC, Certified Public Accountants have released an audit report on the Mount Ayr Community School District.
The District’s revenues totaled $11,316,077 for the year ended June 30, 2020, a 1.7% increase from the prior year. Expenses for the District operations for the year ended June 30, 2020 totaled $10,435,263, a 2.7% increase from the prior year. The increase in revenues is due primarily to an increase in property tax and state grants. The increase in expenses is due primarily to instruction and support services.
Van Maanen, Sietstra, Meyer & Nikkel, PC reported two findings related to the receipt and expenditure of taxpayer funds. They are found on pages 59 through 60 of this report.
The findings address issues such as segregation of duties, expenditures in excess of budgeted amounts, certified enrollment, and deficit balance in the School Nutrition Fund.
The auditors provided the District with recommendations to address each of the findings.
Two of the four findings discussed above which relate to the District are repeated from the prior year. The School District’s Board of Education has a fiduciary responsibility to provide oversight of the 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 the State’s website at https://auditor.iowa.gov/audit-reports.