Citation in context
December 10, 2025 — Meeting Transcript
Cited passage · transcript
Okay, so the next part of our presentation, you have also received a report to the Board of Education as a separate report. This is our governance letter, so on the next couple of pages, we're just going to highlight some of our required communication under our professional standards. So the significant accounting policies that have been adopted by the district are disclosed in Note A Again there two basis of accounting presented in your financial statements the full accrual basis in the government and then the modified accrual in your fund financial statements There were no new accounting policies adopted so when you comparing the accounting policies from the prior year financial statements to the current year they are the same There were no changes. The financial statements do include two significant estimates, comparable and consistent with the prior year, and that includes the estimate of the net pension liability and the OPEB liability that gets recorded in your government-wide financial statements. It's considered a significant estimate because the actuary determines those liability amounts based on certain assumptions. There were no transactions that lacked authoritative guidance or consensus in the financial statements. We're required to be independent of the board and your management, and we are in fact independent, and we're just required to disclose that to you all. We also look at the note disclosures that accompany your financial statements and found those to be neutral, consistent, and clear. And then we didn't have any difficulties encountered in performing our audit.