EXTERNAL AUDITORS GIVE HIGHEST OPINION TO SCHOOL DISTRICT’S FINANCIAL DOCUMENTS

Miami-Dade County Public Schools’ (M-DCPS) external auditor, McGladrey, LLP, recently presented the school district with the highest opinion that can be bestowed upon financial statements.

In a recent report, the auditors concluded that, in their opinion, “…the basic financial statements…present fairly, in all material respects, the respective financial position of The School Board as of June 30, 2012, and the respective changes in financial position, thereof for the year then ended in conformity with accounting principles generally accepted in the United States.”  This language constitutes an unqualified opinion, which is the highest opinion that can be bestowed upon financial statements. No audit adjustments were made to the original financial statements prepared by the school district and no disagreements with management were encountered over the application of significant accounting principles.

M-DCPS has received certificates of excellence from the Government Finance Officers Association for 27 years and from the Association of School Business Officials for 28 years.  Earlier this year, the school district was also presented with the coveted Award for Excellence in Financial Management by the Council of the Great City Schools. Since the award’s inception six years ago, the Council has only conferred this recognition on two other occasions. M-DCPS was the first major urban school district to receive the award.

The School Board Audit and Budget Advisory Committee will review this report at its December 4, 2012 meeting and make recommendations accordingly.

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12-JJS/548

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