Ozark School Receives Clean Audit Report, Again
For more than a decade, Ozark School District has received a clean audit report from an independent auditor, and 2019 was no exception.
At the Nov. 21 Board of Education meeting, Andy Marmouget with KPM CPAs & Advisors presented the audit for the fiscal year that ended June 20, 2019, saying that the District ended the year with a healthy fund balance of approximately 30 percent.
Marmouget also praised Ozark CFO Tammy Short and her team, saying they did a great job switching over all the account numbers to the new DESE financial system.
“Our annual audit is a team effort and we have an amazing team at Ozark School District,” Short said. “Although the audit happens once a year, it's our day-to-day operations that ensure we continue to follow proper procedures and guidelines. I could not be more proud of the team I work with to make our audit a success.”
The 60-page report states that the District continues to budget conservatively.
“Although there is an increase in the local economy and the state formula appears to be stabilized, the District continues to take a conservative approach to budgeting for FY20. In FY19, the District saw approximately a 5% increase in local assessed valuation. Along with this, the District is continuing to see steady growth,” according to the audit report. “With the increase in assessed valuation and the state continuing to project the formula being funded 100%, the District is optimistic about funding. The District will continue to monitor all revenue sources as well as take a conservative approach to budgeting all expenditures and revenue.”
Marmouget reviewed various aspects of the report, declaring it a clean audit with no findings, before the board approved it.