For the fourth year running, independent audits of the Long Beach Unified School District's finances and its Measure K school bond program have resulted in the highest possible rating from certified public accountants.
Results of the audit of the 2015-16 fiscal year were presented to the school board in December by the firm of Vicenti, Lloyd & Stutzman. The auditing firm deemed that the school district’s accounting is fully compliant with regulations and legal requirements. The "unmodified opinion," designation signifies that the records audited give a true and fair view of LBUSD's finances.
The accounting firm also gave an "unmodified opinion" after two audits of the school district's Measure K school construction and modernization program. One audit examined the school bond fund in detail, while a performance audit determined that the school district has expended funds appropriately.
"It is heartening to know that the confidence we have in the management of Measure K bond funds has again been validated by independent auditors," said John McGinnis, member of the LBUSD Board of Education. "The board is grateful to the facilities staff and to the Measure K Citizens' Oversight Committee for their hard work and diligence."