Wayland Union Schools has received an unmodified audit opinion for the fiscal year ending June 30.
In an unmodified opinion, auditors issue this opinion to financial statements that are prepared in all material respects and comply with accounting standards being used. Schools strive for unmodified opinions.
Certified public accountants with the firm of Plante Moran, PLLC, reported that school district revenues of $30,657,571 exceeded expenditures of $30,126,212 with $531,359 remaining. The fiscal year ended with a general fund balance of $4,757,214 or 15.79%.
Assistant Superintendent of Finance and Operations, Pat Velie, said conducting the school audit is a team effort and the business office, to include Amy Syers, Dana Look, and Ryan LaDere, in conjunction with Plante Moran work on the annual closeout and audit all summer.
The majority of school revenues were from state funding of nearly $20.2 million, $3.2 million in local sources, such as property taxes, and $2 million in casino revenue sharing, which is restricted revenue.
The majority of expenditures was for personnel — totaling $25,360,644 or 80.97% of the overall budget — and support services, which added to $4,765,568 or 19.33%. Within support services are $2,462,800 in operations and maintenance expenses, and $1,091,014 in transportation expenses.
The full audit is available on the waylandunion.org webpage.
We are blessed to have a great financial team within the WUS district.
Congratulations to Pat Velie and team for their outstanding performance. Thank you from a grateful taxpayer.