Worcester County Public Schools has passed an independent audit of its fiscal 2021 budget with flying colors.
Chris Hall, a certified public account with TGM Group, presented highlights of the 75-page assessment during Tuesday’s board of education meeting. In his independent auditor’s report, he gave the district the highest level of assurance possible.
“In our opinion, the financial statements … present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of The Board of Education of Worcester County, as of June 30, 2021 …,” the report said.
Hall also pointed out that the district took in more money than what was budgeted for fiscal 2021, with expenditures coming in under budget by $1.9 million in the general fund.
He said the food service fund, which is the second largest, came out with a surplus of $377,000, the bulk of which came from a county grant.
Superintendent Lou Taylor was pleased with the overall assessment.
“It takes a lot of money to operate a school system and it’s good to hear we’re doing the right things with the money,” he said during Tuesday’s meeting.
TGM was hired because the board is required to have an annual independent audit of all its financial statements. The audit was sent to the state superintendent on Sept. 30, in accordance with Maryland requirements, and board of ed members officially approved it Tuesday.
Board members will begin tackling the details of the fiscal 2022 budget in the coming months. Taylor said that the first budget meeting, where school officials will bring forward their wish lists for finances for the coming year, is set set for Dec. 7.