Re: Last Independent Audit June 30, 2013 Archived Message
Posted by Hard Core  on February 28, 2015, 7:16 pm, in reply to "Last Independent Audit June 30, 2013"
Well how about that! Finally someone that is apparently seeing the BIG picture here. This is a big business folks and some of the top connected players have been allowed to benefit off of the backs of the taxpayers far to long. It does a heart good to see someone who actually understands what is/has been going on here.
I have to laugh that THEY are outraged over the thoughts of concessions and some people are just fine with that. Wake up people, read and educate yourselves about what has been taking place in your town!
This paragraph copied right off the District's Financial Report...
Opinion on Regulatory Basis of Accounting
The District does not maintain a de
tailed listing (inventory)
of fixed assets, whic
h is required under the
regulatory provisions prescribed by
the Illinois State Board of Education. Therefore, the amounts
included in the general fixed assets
account group and the information
contained on page 27, have not
been audited. In addition, the District has omitted
disclosures required by
Governmental Accounting
Standards Board Statement 45,
Accounting and Financial Reporting for
Post-Employment Benefits Other
Than Pensions.
The amount by which this disclosure would
affect the financial statements is not
reasonably determinable.
Did you catch this part? ((((The District does not maintain a de
tailed listing (inventory)
of fixed assets, whic
h is required under the
regulatory provisions prescribed by
the Illinois State Board of Education.)))
How about this part? (((the District has omitted
disclosures required by
Governmental Accounting
Standards Board )))
With the result being...((((The amount by which this disclosure would
affect the financial statements is not
reasonably determinable.)))
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