WSD Receives Clean "Unmodified" Financial Audit
The Wentzville School District received a clean audit of its financial records, accounting practices and compliance with state and federal requirements during the fiscal year that ended June 30, 2016. The audit, which was conducted by the Daniel Jones & Associates accounting firm, reported no findings or questioned costs. The WSD Board of Education approved the audit at its November meeting.
Jacob Myers, Senior Accountant with Daniel Jones & Associates, told the School Board that after spending several weeks reviewing information from the WSD Business Department, all accounting practices, financial records and management complied with state and federal requirements.
“We are very proud to have received an ‘Unmodified’ rating as a result of the audit,” said Pam Frazier, WSD Chief Financial Officer. “We work very hard across the District to be good stewards of taxpayer dollars to earn and maintain the trust of our stakeholders. As we continue to manage our explosive growth, we are mindful of that trust and strive to stretch every dollar to meet the needs of our students.”
In 2015-16, the District’s total revenues were just under $226 million and the total expenditures were just under $212 million. The WSD ended Fiscal Year 2016 with over $52 million in operating fund reserves, which is 34.71% of the District’s annual operating expenditures. For additional details about WSD finances, visit the WSD website.