COLDWATER, MI (WTVB) – The Coldwater Board of Education approved the 2015-2016 fiscal year audit from Hungerford Nichols of Grand Rapids on Monday night, in which the district was given an “unqualified opinion” which is the highest opinion an auditor can give.
The audit showed the district had no significant deficiencies or material weaknesses in its internal controls and that the district general fund increased by just over $1 million to over $4.8 million as of June 30, 2016.
The general fund balance now represents 19.36 percent of 2016-2017 budgeted expenditures, up from 15.77 percent the previous year.
It also is above the board policy that the general fund balance be at least 18 percent of subsequent year expenditures. Among the suggestions made was that the district should consider raising child care fees as that fund is currently in deficit.
