No deficiencies and no material weaknesses have been found in the School District 56 independent audit, Board of Trustees members heard Monday evening.
The school board’s regular last-Monday-of-the-month meeting was delayed twice by weather, and took place in the District 56 Conference Center in Clinton. The school’s presentation to the board was handled by Clinton High School. In addition to finances, the board discussed policies and the 2026-27 calendar.
The independent auditor submitted the “best opinion a district can have,” according to Matt Phillips of Phillips CPAs and Advisors. The “unmodified” (or clean) audit says that the district’s finance statements are accurate and fairly stated in all material aspects.
Auditors filed their report by the December deadline specified by state law. In District 56, last year’s General Fund net operating result was a positive $23,572. That money added to the fund balance made the district’s reserve fund $5,095,312 (as of June 30, 2025). The district is keeping a fund balance of 15% of the total General Fund expenditures of $34,191,401.
That 15% nearly doubles the recommended amount (8.33% as required by the state’s Fiscal Accountability Act). That 8.33% would equal 1 month of expenses if tax collections and other revenue sources were interrupted by natural or man-made disasters.
The District Financial Office also received news about the D56 bond rating.
S&P Global Ratings confirmed that a review of D56 recent financial results, financial management, and governance has given the district s Bond Rating (its credit rating) as “Affirmed as ‘A’ with a “Stable’ outlook.”
Also, the board reviewed an upcoming school year’s calendar that makes August 4 the first day for students and sets high school graduation at May 27 (2026-27) under a modified year-round schedule. Policies approved by the board included student absences and excuses, including intervention with a student is considered truant; excused absences for career and technical student organizations’ experiences, to list 9 experiences; and the use of drones as related to the schools. School improvement designations and approval of a Clinton Elementary School plan also were before the Board of Trustees for discussion.
The next District 56 Board of Trustees meetings will be Feb. 23 and March 23. The board meetings, open to the public, are at 7:30 p.m. in the District 56 Conference Center in Clinton.
