All quarterly reports were presented to the Board of Education in a timely manner and in line with Generally Accepted Accounting Principles (GAAP).
The annual external audit was conducted and found no violations of GAAP or material weaknesses in internal controls or financial reporting.
The IT Department is working toward further protections and security measures to reduce impact to data and hardware in the event of intrusion, loss, or theft.
Several capital projects were completed across the District. These upgrades and repairs help ensure the safety and longevity of District capital assets.
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Areas of Growth
SSD was reported as having two or more negative financial indicators in the Office of the State Auditor’s annual Colorado School Districts Fiscal Health Analysis report.
Negative indicators were the result of a planned spend down of fund balance to address staffing challenges caused by post-COVID-19 housing costs. With an increase in assessed property values of 40 percent in the county in 2023, the District reported that recruitment and retention became severely compromised, forcing a strategic choice between maintaining reserves or ensuring adequate staffing for educational quality.
Business Services and IT departments continue to work together to ensure compliance with Colorado Student Data Transparency and Security Act requirements.
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Next Steps
Continue training and communicating best practices regarding internal controls to new hires within the District. Transition to new Financial software has led to the development of new training materials by Business Services staff. Development of these materials is in progress and will continue as needed through the next Fiscal year.
Continue providing regular Financial reports to the School Board and maintaining information on Financial Transparency website for the public.
Continue upgrading Technology systems, plans and procedures to ensure network performance and data security.