DISTRICT'S FINANCIAL OPERATIONS RECEIVES OUTSTANDING RESULTS IN STATE AUDIT

May 20, 2004 - Good business practices in the Renton School District were acknowledged today when state auditors reported that after an eight-week financial accountability review, no discrepancies in the district's practices were found.

Members of the state auditor's office examined more than 20 critical areas of financial activities that are of a high risk of noncompliance, misappropriation or misuse including accountability for public resources, legal compliance, federal programs, cash and investment management, long-term debt and more.

Such audits are conducted annually in every school district in the state. Auditors report discrepancies using three varying degrees of severity: findings, management letters and recommendations. Renton's audit produced no findings or management letters. Two recommendations in transportation and special education were made. The district corrected those accounting procedures prior to the final report.

"We've discovered that Renton does it right," said assistant audit manager Ruth Riddle.

Audit manager James Griggs added, "A high percentage of districts had findings last year. So we can say that Renton is really doing a good job."

Superintendent Dolores Gibbons praised the work of staff members in the districtÕs business office and the many other departments involved in the audit. Pointing to the countless number of federal, state and local regulations that govern a school districtÕs business practices, Superintendent Gibbons was pleased that such competent people work in those departments so others in the district could focus on the districtÕs most important responsibility: education.

ÒWe always think about things on a teacherÕs level,Ó said Superintendent Gibbons. ÒWe want to do this part of running a district well, so our teachers can concentrate on teaching our children.