By Danielle Smith

Leader Staff Writer

At the Oct. 8 school board meeting, board members received a “congratulations” from Jacob Sopczynski CPA, regarding the district’s audit for the 2018-19 fiscal year, which ended June 30.

In the presentation, Sopczynski gave the district a “highest level of assurance” and went over the audit report in detail, highlighting the things the district did well while noting a few discrepancies.

“There were some unrecorded construction costs, so at the end of the year, we had some construction going on and those costs weren’t recorded,” Sopczynski said.

Another area he pointed out was a non-compliance item where there were some budget overages on a few line items. “One of them was a fairly large amount and so that’s a non-compliance issue and we’re going to correct that for next year,” Sopczynski said. “Sam (Barna) and I talked about some ways to correct that.”

However, Sopczynski said there were no significant deficiencies or questioned costs. Items such as reporting retirement wages was also corrected from last year’s audit.

From a numbers standpoint, the district’s general fund balance is $10.6 million, not including liabilities. With revenues included, the general fund balance is $65 million for the year with expenses being $65 million.

Sopczynski said, “You’ll see a small decrease from last year to this year because our numerator and denominator changed. But our fund balance really didn’t change . . . our costs continue to go up and our revenues are going up as well . . . when we look at that compared to where we budgeted, that, in my opinion, is a pretty close budget.”

It was also noted that Oxford has been “very fortunate” regarding enrollment trends and it has benefitted the district, especially with the increase of Oxford Virtual Academy students.

As for the future, Sopczynski said there will be more scrutiny placed on activity funds starting next year, but assured “accounting has got a plan to make sure those get checked out and accounted for correctly going forward.”