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Confluence Academy

 

Summary Statement

 

Confluence Academy LEA recently received an unmodified opinion on an audit of the district's Financial Statements for the fiscal year that ended June 30, 2024. The areas covered under the audits, were accounting of financial statements, compliance with state law and compliance with laws governing federal programs.

 

An unmodified opinion is the best opinion any organization can receive. CliftonLarsonAllen, LLP performed the audit.

 

The report states, in part “in our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the organization as of June 30, 2024, and the changes in its net assets and its cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America.”

 

Confluence Academy LEA uses three major funds to account for its financial activity — the general fund, teachers’ fund, and capital projects fund.

 

Among all three funds, the report states that Confluence Academy LEA had total revenue of $57,109,235 for the 2024 fiscal year compared to $70,520,452 in fiscal year 2023. 2024 revenues by fund were $31,478,922 for the general fund, $25,630,313 for the teachers’ fund and $0 for the capital projects fund.

 

The report shows that general revenues accounted for $38,692,747 in revenue or 68% of all revenues. Program specific revenues in the form of operating grants and contributions accounted for $18,416,490 or 32% of total revenues.

 

The LEA had $58,974,131 of expenditures in fiscal 2024 compared with $52,879,724 in fiscal 2023.

 

The auditors report showed in total, net assets have decreased by $1,864,894 for total net assets of $20,233,289 at fiscal year ended 2024.

 

The report shows balances for the general, teachers’ and capital projects funds totaled $13,876,414, $0, and $175,584 for a total governmental funds balance of $14,051,998 at fiscal year ended 2024.

 

The audit report can be viewed online by visiting www.confluenceacademy.org and clicking on the Information/Financial Reports/Audit link.