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GCS Receives ‘Clean’ Financial Audit Report

 

Jan. 11, 2022 – For the 26th time in 26 years, GCS has received a “clean” or unmodified opinion on its Annual Comprehensive Financial Report (ACFR) for the year ended June 30, 2021.

The audit, presented by Dixon Hughes Goodman LLP to the Guilford County Board of Education at its Jan. 11 meeting, states that the district’s financial statements were prepared in accordance with accounting principles generally accepted in the United States and that such statements fairly present the board’s financial position, cash flows and results of operations.

The 2020-21 GCS operating budget received $779,585,481 in revenue, of which 78.5 percent was spent directly for instructional purposes. The GCS operating budget includes state, local and federal funding, as well as special revenue funds. GCS also manages enterprise funds such as those for child nutrition and the ACES afterschool program.

“We’re proud to continue this tradition of excellence in accounting,” said Angie Henry, chief financial officer. “The finance team works tremendously hard to make sure GCS funds are spent appropriately and that those expenditures are transparent to the taxpaying public.”

The finance department has won national recognitions from the Association of School Business Officials International (ASBO) and the Government Finance Officers Association of the United States and Canada (GFOA) for 26 consecutive years. Henry was recognized by the Triad Business Journal as one of its Financial Executives of the Year in 2015.