Baxter CSD audit

Nolte, Cornman & Johnson P.C. released an audit report on the Baxter Community School District.

FINANCIAL HIGHLIGHTS: The District’s revenues totaled $7,814,619 for the year ended June 30, 2023, an 8.88% increase from the prior year. Expenses for District operations for the year ended June 30, 2023 totaled $7,185,295, a 7.58% increase from the prior year. The increase in total revenues was primarily caused by an increase in revenues from charges for service while the increase in total expenses mainly occurred in the instruction function.

AUDIT FINDINGS: Nolte, Cornman, & Johnson P.C. reported three findings found on pages 58-60 of this report. The findings address issues related to segregation of duties, the certified budget and supplementary weighting. Nolte, Cornman & Johnson P.C. provided the District with recommendations to address each of the findings.

Two of the three findings discussed above are repeated from the prior year. The Community School District’s Board of Education has a fiduciary responsibility to provide oversight of the 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.