For the fourth year running, independent audits of the Long Beach Unified School District’s finances and its Measure K school bond program have resulted in the highest possible rating from certified public accountants.
Results of the audit of the 2015-16 fiscal year were presented to the school board in December by the firm of Vicenti, Lloyd & Stutzman. The auditing firm deemed that the school district’s accounting is fully compliant with regulations and legal requirements. The “unmodified opinion,” designation signifies that the records audited give a true and fair view of LBUSD’s finances.
The accounting firm also gave an “unmodified opinion” after two audits of the school district’s Measure K school construction and modernization program. One audit examined the school bond fund in detail, while a performance audit determined that the school district has expended funds appropriately.
“It is heartening to know that the confidence we have in the management of Measure K bond funds has again been validated by independent auditors,” said John McGinnis, LBUSD Board of Education member. “The board is grateful to the facilities staff and to the Measure K Citizens’ Oversight Committee for their hard work and diligence.”