News Release, Charles County Public Schools
For the third consecutive year, an independent auditor has found Charles County Public Schools’ (CCPS) financial reports in order.
Financial auditors presented CCPS with an opinion that they found of no material weaknesses—meaning they found no deficiency in the school system’s internal controls—during its annual audit of the school system’s basic financial statements.
Bill Early, an auditor with CliftonLarsonAllen LLP, presented the Board of Education an overview of its report on internal controls over financial reporting and on compliance and other matters. Audits of the CCPS financial statements are performed in accordance with government auditing standards. The audit is for the 2018-19 school year, which ended June 30, 2019.
Early guided the Board through the audit, identifying pages where information, like financial statements and fund balances, could be found. He commended the Board on funding its pension at 95.4 percent, but cautioned them that contributions to Other Post-employment Benefits (OPEB) are low and could become a long-term liability. He said all schools show a positive budget balance.
The CCPS fiscal year 2020 operating budget is $382.9 million. The general fund pays for the school system’s day-to-day operations. The state funds the largest portion of budget, contributing 50.1 percent. The county funds 48.8 percent of the CCPS budget. The remaining funds come from the federal government and other sources.
The school system’s financial audits can be found on the Charles County Public Schools website at https://www.ccboe.com/index.php/budget.