Nolte, Cornman & Johnson P.C. released an audit report on South Tama County Community School District in Tama.

Financial Highlights:

The District’s revenues totaled $25,349, 142 for the year that ended June 30, 2022, a 7.28% increase from the prior year. Expenses for District operations for the year ending June 30, 2022 totaled $21,180, 759, an 8:25% decrease from the prior year. A significant increase in revenues from operating grants, contributions and restricted interest was the primary reason for the increase in total revenues. The largest decrease in total expenses occurred in the instruction functional area.

Audit Findings:

Nolte, Cornman & Johnson P.C. reported four findings found on page 67-71 of this report. The findings address issues such as segregation of duties, certified enrollment, supplementary weighting and inactive student activity accounts. Nolte, Cornman & Johnson provided the District with recommendations to address these findings.

Two of the findings discussed above are repeated from the prior year. The Community School District’s Board of Education has a fiduciary responsibility to provide oversight of the Community School District’s operations and financial transactions. Oversight is typically defined as the “watchful and responsible care” a governing body exercises in its fiduciary capacity.

A copy of the audit report is available for review on the Auditor of State’s website at: auditor.iowa.gov/audit-reports.