Detailed, 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.
The results of the audit of the school district’s finances by a team of independent auditors were presented to the school board recently by the Vicenti, Lloyd, Stutzman firm. The auditing firm deemed that the school district has earned the coveted “unqualified” opinion, meaning the financial statements give a true and fair view of LBUSD’s finances.
The accounting firm arrived at the same opinion after conducting two audits related to 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. Auditors said the district is in full compliance, with proper internal controls. The Measure K audits also will be presented to the Measure K Citizens’ Oversight Committee on Thursday, Dec. 20.