Lisa and Bambo Sonaike reviewed the FY 2019 audit report.  Bambo is the outside financial auditor that WIA has used the past several years.  Federal funds did not exceed the $750,000 thresh hold to require a single audit.  On top of a regular financial audit, we are also required to do an annual audit of internal controls and compliance with State of Georgia requirements.  This audit combines the two.  The opinion of the auditor is a clean audit in both regards as noted on page 2 of the audit report.  There are no findings reported by the auditor. 

The income statement and balance sheet both reflect a strong financial position for the school.  The charter agreement facilitates the school carrying forward unspent funds from one fiscal year to the next.  During the sampling process, every sample passed all levels of review for compliance. 

Financial policies approved during the FY 2019 year will be submitted in conjunction with the FY 20 audit next summer to ensure compliance during the current fiscal year with recently approved policies.