1. ROCK COUNTY PUBLIC SCHOOLS
Audit Presentation
For the Year Ended August 31, 2018
DANA F. COLE & COMPANY, LLP
CERTIFIED PUBLIC ACCOUNTANTS

2. Rock County Public Schools
Auditors’ Report on Financial Statement
Unmodified audit report
Highest level of opinion
Means that in our opinion the financial statements are presented fairly in all material respects in accordance with the cash basis of accounting.

3. Summary of Governmental Fund Balances (Page 7 of the Financial Statements)
08/31/18
08/31/17
Change
General
2,077,974
2,028,167
49,807
Lunch
57,249
62,866
(5,617)
Building
129,608
167,318
(37,710)
QCPU
1,351
1,603
_(252)
Total
2,266,182
2,259,954
6,228
Fund balances in the governmental funds include all cash, investments, and balances held by the County Treasurer.

4. Governmental Fund Balance Changes (Summary) (Page 3 of handout and pages 7-8 of the Financial Statements)
The change in fund balances of $6,228 was minimal.
Overall the Cash and Certificates of Deposit increased by $58,702 from the prior year while the Cash at the County Treasurer decreased by $52,474.

5. Governmental Fund Receipts (Summary) (Pages 4 & 5 of the Financial Statements)
Governmental Funds
08/31/2018
8/31/17
Change
RECEIPTS
Property taxes
3,018,296
3,038,433
(20,137)
Operating grants
813,234
719,481
93,753
State Aid
283,207
119,976
163,231
Other
132,540
116,545
15,995
Total Revenues
4,247,277
3,994,435
252,842

6. Governmental Fund Disbursements (Summary) (Page 4 of the Financial Statements)
Governmental Funds
08/31/2018
8/31/17
Change
DISBURSEMENTS
Instruction
2,440,327
2,281,247
159,080
Fed and state programs
150,666
166,297
(15,631)
Support Services
796,944
936,927
(139,983)
General and admin.
502,212
447,459
54,753
School lunch
136,616
126,701
9,915
Capital Outlay and Other
214,284
938,571
(724,287)
Total
4,241,049
4,897,202
(656,153)

7. Summary of Findings and Responses
We have summarized on pages 44 through 45 our findings.
Segregation of duties
The District has a limited number of personnel in the accounting function, thus limiting its internal control procedures.
We recommend that the District continue to monitor and evaluate its internal controls with the use of limited personnel and provide as much segregation of duties as determined to be feasible within its operations.

8. Summary of Findings and Responses (continued)
Financial Statement Preparation and Review
The District management is responsible for preparing the financial statements in accordance with the cash basis of accounting.
Management currently relies on the auditor to propose adjustments necessary to prepare the financial statements including the related note disclosures. Management reviews such financial statements and approves all adjustments. We recommend that the District’s management continue to review the audit adjustments and understand the relationship to the underlying data.

9. General Discussion
Most footnote disclosures are similar in nature to prior year disclosures.
We encountered no difficulties in dealing with management and the staff in performing and completing our audit.