Independent Auditors Give GCS ‘Clean’ Financial Report

For Immediate Release: January 9, 2018

Contact: Nora Shoptaw (336) 370-8386
Media Desk (336) 574-5730

Independent Auditors Give GCS ‘Clean’ Financial Report
Dixon Hughes Goodman audit covers year ending June 30, 2017

Greensboro, N.C. – Continuing a trend that spans more than two decades, GCS again has received a “clean” or unmodified opinion on its Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 2017.

The opinion, presented by Dixon Hughes Goodman LLP to the board at its Jan. 9 meeting, states that the district’s financial statements were prepared in accordance with accounting principles generally accepted in the United States and that such statements fairly present the board’s financial position, cash flows and results of operations.

The independent auditors noted no internal control weaknesses, found no reportable instances of noncompliance and identified no issues with financial statements or state awards.

The 2016-17 GCS budget totaled $880,296,008, including $676,833,553 for operational expenses. The GCS budget includes state, local and federal funding, as well as special revenue and enterprise funds such as those for child nutrition and the ACES afterschool program.

With significant budget cuts in the past decade totaling more than $120 million, making sure that every dollar is used appropriately is important to the district’s continued success.

“The work of our financial services department is critical to our schools, and the board greatly appreciates the focus on managing resources with diligence and transparency,” said board chairman Alan Duncan.

The report has been submitted to the Association of School Business Officials International (ASBO) and the Government Finance Officers Association of the United States and Canada (GFOA) for certificates of excellence in financial reporting award consideration. The district has earned these awards for 22 consecutive fiscal years.

About Guilford County Schools
Guilford County Schools, the third largest school district in North Carolina, the 47th largest of more than 14,000 in the United States, and serves more than 73,000 PK-12 students at 126 schools. With approximately 10,000 employees, GCS works in partnership with parents, businesses, colleges and the community to deliver an education that connects student interests and skills with the careers and economy of our future here and around the world. We provide educational choices to meet individual student needs in a culturally diverse citizenship and new opportunities to help our students Soar to Greatness. For more information, visit the district’s website at www.gcsnc.com.

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