Notice of Audit_Oelrichs School District

Notice of Audit

Oelrichs School District No 23-3
Notice is hereby given that the Oelrichs School District No 23-3, South Dakota have been audited by ELO Prof LLC., Certified Public Accountants, for the year ended June 30, 2019. A detailed report thereon is available for public inspection, during normal business hours, at the business office of the School District, and also available at the Department of Legislative Audit in Pierre, South Dakota or on the Department of Legislative Audit website at
Finding: The School District’s internal control structure should be designed to provide for the preparation of the financial statements, footnotes, and the SEFA in accordance with generally accepted accounting principles. Oelrichs School District 23-3 requested the external auditors to assist in the preparation of the financial statements, related footnotes, and the SEFA for the year ended June 30, 2019.
Recommendation: This circumstance is not unusual in an organization of this size. It is the responsibility of management and those charged with governance to make the decision whether to accept the degree of risk associated with this condition because of cost or other considerations. Also, a thorough review of the transactions in each fund should take place prior to the beginning of the audit, to ensure generally accepted accounting principles have been followed for each fund type, especially for transaction types infrequent in occurrence.
Published twice at the total approximate cost of $38.44
Published: Feb. 13, 20, 2020

Fall River County Herald

EDGEMONT OFFICE: PO Box 660 Edgemont, SD  57735-0660   |   605.662.7201
HOT SPRINGS OFFICE: 334 S. Chicago St. Hot Springs, SD 57747 | 605.745.3930
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