On Feb. 20, Kay L. Chapman, CPA PC of Muscatine, released an audit report on the Durant Community School District in Durant, Iowa.
The District’s revenues totaled $9,308,893 for the year ended June 30, 2019, a 6 percent increase from the prior year. Expenses for District operations totaled $9,121,425, a 4 percent increase from the prior year. The increase in revenue was largely due to property tax funded cash reserve levy. Increased expenses were incurred in the areas of tuition, salaries and benefits, and sharing contracts.
Chapman reported one finding related to the receipt and expenditures of taxpayer funds. It is found on page 63 of the report. The finding address issues such as lack of segregation of duties. Chapman provided the District with recommendation to address this finding.
The District’s board of education has a fiduciary responsibility to provide guidance over the District’s operations and stewardship over the District’s finances. The board is responsible for the governance and leadership of the District.
A copy of the audit report is available for review in the District secretary’s office, in the office of Auditor of State and on the Auditor of State’s web site at https://auditor.iowa.gov/audit-reports.