Lake Washington School District receives clean audit
Published 11:05 am Tuesday, July 14, 2015
The following is a release from the Lake Washington School District:
The Washington State Auditor’s Office issued two reports in late May concerning Lake Washington School District. The district had no findings of noncompliance on either the accountability audit report or the financial and federal audit report. This is the sixth consecutive year the district has earned both accountability and financial audits free of findings. Both reports covered the district’s last fiscal year, September 1, 2013, through August 31, 2014.
The highlights in the financial section noted that general fund reported an increase in revenues of close to 8 percent to $251.6 million. Expenses rose by about 6% over the previous year, to $247.7 million. Both increases were influenced by continuing growth in student enrollment. There were over 800 more students in the district in 2013-14 than the year before.
The financial audit assesses the District’s financial statements and processes, using governmental auditing standards. The accountability audit examines how well the District complies with its own policies, as well as state and federal laws. The accountability report examines areas representing the highest risk of noncompliance, misappropriation or misuse.
“Our business services office is committed to the efficient management and use of taxpayer funds,” noted Janene Fogard, Deputy Superintendent for Operations. “The financial oversight required of a $250 million operation with multiple sites is complex. These audit results reflect the integrity of our district and accountability to the community.”
The full reports are posted on the Washington State Auditor’s website and the Lake Washington School District website. All district audits from 2005 through 2014 are available.
