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High Audit Rating Demonstrates Continued Success in District's Financial Stewardship
Reno, NV (Nov. 30, 2011) - Once again, the results of the most recent external audit of the Washoe County School District's business and financial operations has proven its leadership remains accountable with its resources despite a troubled economy. The District was given an "unqualified," or clean, audit rating from independent accounting firm Kafoury, Armstrong and Co. of Reno for the audit for the fiscal year ended June 30, 2011.
Superintendent Dr. Heath Morrison says, "This audit demonstrates our commitment to spending taxpayer money responsibly. We have made a promise to the public to create the best education program for our children while remaining transparent and accountable in the process and this audit shows our continued focus on responsible fiscal management."
District Chief Accountant Tom Ciesynski and Chief Financial Officer Gary Kraemer presented the findings of the audit to the Board of Trustees last week. In this presentation they noted the positive audit results comes given a period of challenging budget reductions cutting $73 million in the last four fiscal years including $37 million in the year of this report. Due to cuts at the local, state and federal level, the final 2011-2012 budget included $50.6 million in reductions and cost-savings measures and the those reductions are likely to continue for 2012-2013.
The chair of the board's audit committee, Barbara Clark says, "The opinion received from our external auditors Kafoury, Armstrong and Co., illustrates that the District, for another year, has demonstrated its fiscal stewardship by receiving the highest level of assurance on the audit report."
Contributing to the audit's success are a number of major initiatives the District has conducted this year in the midst of making budget cuts to meet the financial challenges of the fiscal year just ended, the current fiscal year and beyond. The Board of Trustees' implementation of the strategic plan last August led to an enforcement of best practices in an aggressive effort to maximize its funding. Despite declining enrollment numbers, Washoe County has improved its graduation rate
by 14 points to 70 percent over the last year and student test scores have increased, a promising indicator of a successful school system that will attract businesses outside the state to northern Nevada.
Chief Financial Officer Gary Kraemer says, "The Washoe County School District values its responsibility to educate our children using public monies and we are committed to being good stewards of public funds. Maintaining an open and honest record of our financial condition is key to working towards new and innovative ideas to help our children achieve at higher levels than ever before. We are delighted to receive such high marks again this year."
The Washoe County School District, again, will submit the report to the Government Finance Officers Association of the United States and Canada in pursuit of its 11th Certificate of Achievement for Excellence in Financial Reporting. This is a prestigious award that demonstrates the District continually and efficiently adheres to accepted accounting and reporting principles.
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About Washoe County School District: The Washoe County School District includes the Reno/Sparks metropolitan area, Incline Village, Gerlach, Empire and Wadsworth, Nevada. The District provides each of its 63,000 students with a superior education in a safe and challenging environment and is committed to graduate every child career and college ready.
For more information visit: www.washoecountyschools.org. Follow us on Twitter at WCSDTweet.
Washoe County School District
425 East Ninth Street
Reno, NV 89520
