Overview: At the recent Dilworth-Glyndon-Felton School Board meeting, the presentation of the June 30, 2024 audit by Derk Flanigan, a partner at I Bailey, emerged as a key highlight. The audit, a fundamental process for the school district, revealed a clean unmodified opinion. However, it also uncovered several areas needing attention, particularly concerning the preparation of financial statements, journal entries, and the segregation of duties within the accounting function. A significant aspect of the audit was the federal awards audit, which was necessitated by the district’s federal award expenditures exceeding $750,000, covering the . . .