Here's A Look At Rochester Community Schools' Audit Results

ROCHESTER, MI — Rochester Community Schools received a clean, unmodified audit opinion for the 2018-19 school year. The opinion was presented at Monday’s Board of Education meeting by Akshay Kapoor, CPA, a 16-year veteran with Lewis & Knopf, CPAs, PC, who led the audit.

“[Rochester Community Schools] received a clean, unmodified opinion, which is the highest level of assurance that you can receive,” said Kapoor.

Kapoor was part of a team of six auditors who spent four full days auditing the district’s financial statements. The RCS business office provides the auditors with accounting information that contains revenue, expenditures, and support material for each amount. The support documents include Board of Education meeting minutes with approvals for bond project bidding, budgets and bills payable, as well as purchase orders, contracts, and invoices.

“We are pleased to have received an objective unmodified opinion from an independent firm and that there were no findings,” said Matthew McDaniel, executive director of business operations. “In addition, there were no material weaknesses or significant deficiencies identified in internal controls over financial reporting.”

Details of the district’s uniformed budgeting and accounting system can be found in the Comprehensive Annual Financial Report (CAFR) located under the transparency reporting on the website.

“We are proud of the efforts of our Board of Education to ensure the proper fiscal management of our district budget,” said Dana Taylor, deputy superintendent of business affairs.

The district maintains an annual $183 million general fund budget, as well as $185 million in bond monies that were approved by the community in 2015. As a result of the recent election, the district will also manage a building and site sinking fund that will total $78 million over the next 10 years.

“This audit opinion can reassure our community that we have sound financial processes in place to ensure the long-term stability of the district,” said Superintendent Robert Shaner, Ph.D. “As good stewards of the taxpayer’s dollar, we are committed to providing a balanced budget and that is sustainable, promotes growth, and supports the addition of high-quality student programs. As we enter the final phases of our bond projects, we are pleased to report that all construction efforts are on budget and on time.”