The Ozark School District has been given a clean audit report.
The district has been given clean audits for over a decade and the streak continued from the report given to the Board of Education by KPM CPAs & Advisors.
“Our annual audit is a team effort and we have an amazing team at Ozark School District,” Ozark CFO Tammy Short said in a statement. “Although the audit happens once a year, it’s our day-to-day operations that ensure we continue to follow proper procedures and guidelines. I could not be more proud of the team I work with to make our audit a success.”
The report to the board from KPM’s Andy Marmouget stated the district ended the year with a fund balance of 30 percent. The report noted the district tends to be “conservative” when laying out their budgets.
“Although there is an increase in the local economy and the state formula appears to be stabilized, the District continues to take a conservative approach to budgeting for FY20. In FY19, the District saw approximately a 5% increase in local assessed valuation. Along with this, the District is continuing to see steady growth,” the report reads. “With the increase in assessed valuation and the state continuing to project the formula being funded 100%, the District is optimistic about funding. The District will continue to monitor all revenue sources as well as take a conservative approach to budgeting all expenditures and revenue.”