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The results of the financial audit report for the year ending June 30, 2013, were accepted by the Eden Prairie School Board following a presentation on the audit at a school board meeting last week.
were favorable to budget. These established habits of fiscal management will continue to preserve funds for use in classrooms across the district as they soon enter into another budget cutting process, according to administration.
The summary results from the audit included a variety of findings. There were no compliance issues in the auditor's review of laws, regulations, contracts and grants that could have significant financial implications on the district. The district complied with all requirements of the major federal programs.
The district has been recognized in the past for its financial reporting. The district was awarded the Association of School Business Official's Certificate of Excellence in Financial Reporting for last year's financial report, the eighth year in a row that the Business Office has received this national recognition.
budget parameters and are as follows:
"To drive (expenditures) down takes a lot of budget cuts and budget monitoring and that is the way we will continue given our budget constraints," said Chief Operating Officer Patricia Magnuson.
Clifton Larson Allen LLP.
Within the General Fund, both revenues and expenditures declined from the previous year. In addition, the end of the year unassigned fund balance in the General Fund decreased by $245,000 to $13.7 million, or about 1.5 months of expenditures, according to the report.
One finding was reported with respect to compliance with Minnesota statutes. This issue has been addressed by the district and remedied, according to the report.
The Eden Prairie School Board approved the collective bargaining agreements with the teacher, food service, buildings and grounds, and transportation employees. All of the agreements were previously approved by members of each employee union. All agreements are two year contracts effective from July 1, 2013, through June 30, 2015.
EP Schools turn out clean audit
This fund balance represents the funds available to the district to address Nike Lebron Xiii cash flow shortfalls, state aid payment delays or other unexpected and one time expenditure needs. The availability of cash through this fund balance is especially useful to balance the delay in payment of state funds because of aid payment and tax shifts. This has saved the district from incurring short term borrowing costs, according to administration.
The Eden Prairie School District recently came out with a clean audit, according to independent audit firm Nike Kyrie Samurai
Due to administrative oversight of spending and revenue reporting, the year end results in all funds Nike Kyrie 2 White And Blue
School Service Employees Local 284 (transportation) salary schedule improvements of 1.75 percent for 2013 2014 and 2 percent for 2014 2015.
The auditors noted that the district's financial statements were fairly stated and issued what is known as a "clean" audit report. There were also no "significant deficiencies" or "material weaknesses" in the district's internal financial controls, according to the audit results.
Eden Prairie Education Association (teachers), School Service Employees Local 284 (food service and buildings and grounds) salary schedule improvements of 2 percent for 2013 2014 and 2 percent for 2014 2015
Among other details, the agreements establish the salary schedule improvements for the next two years. The salary schedule improvements in the contract agreements are within the district's established Nike Lebron Ii
Board approves four employee contracts
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