“This is a big achievement for our school district, our community, taxpayers and all stakeholders,” District Treasurer Hiwot Abraha said.
The 2018-19 audit from the state also shows no deficiencies, noncompliance items or material weaknesses for the first time in at least five years.
The last two years’ worth of audits had shown one of DPS’ largest problems was employees getting paid for periods they didn’t work.
“I think it’s a product of a concentrated effort on our treasurer’s department, to work very hard to ensure that we stay fiscally responsible and also stay compliant,” DPS School Board President Mohamed Al-Hamdani said.
The new audit results come after the district had its bond rating improved last fall from BBB+ to A-, which could lead to lower borrowing costs in the future.
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