A-W School Audit release

Posted February 26, 2019 at 11:10 pm

Williams & Company released an audit report on February 12, 2019, on the Akron-Westfield Community School District in Akron, Iowa.

In the report, Williams & Company recommended that the accounting and financial reporting functions be closely monitored due to lack of segregation of duties. School officials agreed with the auditor’s recommendations and are continuing the necessary reviews.

Williams & Company reported that the Akron-Westfield Community School District’s General Fund revenues totaled $6,827,482 for the year ended June 30, 2018, an 8.7 percent increase from 2017. The revenues included $1,917,539 in local taxes, $3,526,026 in state aid, and $210,449 in federal funds.

General Fund expenditures for the year totaled $7,022,497 a 5.4 percent increase from the prior year, which included $4,545,947 for Instruction and $2,243,812 for Support Services.

The School District ended the fiscal year with a General Fund Balance of $1,353,133 as determined on a modified accrual basis of accounting.

A copy of the audit report is available for review in the office of the Auditor of State and in the District Secretary’s office.

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