1 of 7

DUQUESNE CITY SD

Audit Report for 2021-2022

Presented February 28, 2023

2 of 7

2021-22 Audit Results

  • Clean Audit!
    • Unqualified opinion – the financial statements are

presented fairly

    • Internal controls over financial reporting
      • No material weaknesses or significant deficiencies
    • Internal controls over federal awards
      • No findings
    • Qualify as low-risk auditee

​

​

​

3 of 7

Fund Balance History

​

​

​

​

​

  • 2021-22 Unassigned General Fund Balance as a % of expenditures budget = 1.4%
    • PDE has an 8% cap for budgeting of unassigned fund balance

​

  • Management is actively engaged to keep future losses to a minimum

​

4 of 7

Financial Highlights

  • 2021-2022 Highlights
    • 21-22 loss was reduced by the $1.8M in ESSER funds received
      • ESSER I - $25,000 (fully expensed)
      • ESSER II - $1.2M ($1M remaining and must be spent by Sept. 30, 2023)
      • ARP ESSER - $600,000 ($4.2M remaining and must be spent by Sept. 30, 2024)
      • ESSER Funds will continue to be utilized to avoid staff reductions

​

    • Unexpected Negative Impacts:
      • The City of Duquesne catch up of tax collector bills ~$178,000 in unbudgeted expense
      • Transportation expenses were ~$200,000 over budget
      • High tuition costs continue to be a burden on District (*will be explained in future slide)

​

    • IMPORTANT NOTE: DESPA & DEA negotiations have not yet impacted finances – will show in 22-23

5 of 7

Revenue Highlights

  • Local RE Taxes vs. State & Federal Contribution to Expenditures

​

​

​

​

​

​

6 of 7

Expense Highlights

  • Personnel and Tuition make up >75%

​

  • ESSER funds will help hold charter rates�
  • WM/EA tuition rate will continue to�grow at compounding rates
    • Act 1 Index of 6.7% for 23-24 and Projected 7.4% for

23-24

​

7 of 7