Marlboro County School District earns clean financial audit for Fiscal Year 2017

Marlboro County School District earns clean financial audit for Fiscal Year 2017
Posted on 01/10/2018
Financial Audit

A comprehensive financial audit of the Marlboro County School District for Fiscal Year 2017 gave an “all clear” report to the School Board and community.

The 81-page audit by Mauldin & Jenkins LLC of Columbia, SC, found no irregularities or issues with the school district’s finances from July 1, 2016 through June 30, 2017. The auditors presented the report to the Board of Trustees Wednesday night.

"We are pleased and proud of our latest financial audit and management report as presented by our financial auditors," said Wes Park, chief financial officer for the Marlboro County School District. "This is an exhaustively complete and thorough review of our entire financial system involving thousands of line items and accounts.”

“The auditors' conclusion is that we are in better shape financially now than we were a year ago, with about $54,295 more in our fund balance at this time for a total fund balance of $3,333,574 as well as paying down $730,000 in long term debt.  Congratulations to the Board for excellent oversight and I want to thank the entire Finance Department for all the hard work pulling this information for the auditors," he said.

Adrienne Berg, the lead audit manager for the engagement, said “it was a pleasure to work with Wes Park and his staff. They got everything to me in a timely manner. This was the earliest completion of the audit in the last eight years.”

The complete audit is available at the school district’s website,

“We are proud to have worked with Marlboro County School District as the District once again achieved an unmodified audit opinion, the highest level audit opinion that can be attained on its audited financial statements, said Tim Monahan, CPA, a partner in the auditing firm.

The public school district receives local tax revenue as well as federal revenue, much of it restricted for specific purposes such as special education. Expenditures include the general fund, which pays for most of the school system’s daily operations, as well as debt service, which pays for long-term debt primarily used to pay off new facilities and major maintenance projects or other capital purchases.

“This is very encouraging and affirms that this board and this administration are making good and proper decisions when it comes to how we spend our limited funds,” said Lucy Parsons, chair of the Marlboro County Board of Trustees. “It is with pleasure that we accept this financial audit from our external auditors.”

The audit comes as the board prepares to begin work on the next school year’s budget. Most of the administrative work will be done in February and March, and the board is expected to review the complete budget in April and May. By law, a balanced budget for the next school year must be in place by July 1, 2018.

For more information about Marlboro County School District, visit