Audit Finds That University Place School District Is In Good Financial Shape

A state Auditor's report released today found that the is in good shape when it comes to financial reporting.

The report - which covers the school district's finances from September 2010 to August 2011 - found no major deficiencies or weaknesses on the school district's financial statements or federal awards.

UPSD also "fully" corrected a finding from a previous audit in which the Auditor's Office claimed it didn't fully ensure that one of its vendors wasn't suspended or prohibited from receiving federal grant money.

"The district is now verifying suspension and debarment status on all vendors being paid with federal funds regardless of guidelines provided by OSPI," the report states.

Superintendent Patti Banks that the district takes its financial responsibilities very seriously, and the clean audit reflects that. It also speaks to the school district's overall financial health.

And the clean audit comes even as the district has suffered reductions in state funding.

"Moody's recently upheld the district's AA bond rating, noting our strong financial position even with reductions in state funding," she told Patch. "We've also come through the past four years of significant budget cuts from the state with all our programs for students intact, due to careful planning and financial management."

"We always want to earn our community's confidence in the management of the district," she added.