DD2 gets financial thumbs up
External auditors – Greene Finney & Horton Certified Public Accountants – presented the auditor report for the 2012-2013 year ending June 30, 2013 to the Dorchester District Two Board of Trustees Oct. 28, prior to its regular board meeting.
The district received an “unmodified opinion” or clean audit – the highest rating. The audit report and the audit presentation has been posted on the financial section of the district web site.
Auditors noted that the General Fund balance has increased $1.73 million – a goal of the district. However, it is recommended that the balance be 16.7 percent – a minimum of two months. Currently the fund balance is only 13.3 percent of the 2013 actual expenditures and 13.4 percent of the 2014 budgeted expenditures.
Auditors noted referendum approval, and that the refunded 2004 GROWTH debt had significant savings.
It was the auditors’ opinion that the district exercises “effective internal controls and financial statements.”