OCSD Receives a Clean Audit Report • Year ending June 30, 2022
ORANGEBURG, S.C. – During the December 13, 2022, Orangeburg County School District Board Meeting, the Board received a presentation on the audit for the fiscal year ending June 30, 2022. OCSD received an unmodified opinion – which means it is a clean opinion, the highest level of financial assurance that can be given. Also, the audit found no material weaknesses or significant deficiencies in the district's financial operations.
OCSD's Superintendent, Dr. Shawn Foster, commended the entire finance team, led by Assistant Superintendent Gail Sanders, on the positive audit. He shared, "as a result of making strategic financial decisions, OCSD was able to not only provide funding for all necessary initiatives but also realize more than $13 million to add to this year’s fund balance (rainy day fund),” he continued.
Further, he shared that over the last three years, OCSD has been able to add a collective $25 million to the fund balance. “In OCSD, we are extremely serious about our fiduciary responsibilities. In just a few short years, we were able to overcome being placed on fiscal watch (before consolidation), and now we have more than $25 million in our fund balance. This significant accomplishment is a testament to our dedication, commitment, and seriousness about the public funds we manage," Foster said.
The audit report was presented by Brian Nicholoson, with the accounting firm Mauldin and Jenkins LLC. The 2022 audit results exemplify OCSD maintaining fiscal responsibility, accountability, and transparency.
Assistant Superintendent Gail Sanders said, "the finance team worked tremendously hard to ensure that OCSD's audit would be successful." She continued, "the team is committed to showing good stewardship for the funds entrusted to us, as we support the students on OCSD as they prepare to be productive citizens in our dynamic, global society."
To view the press release click on the words "OCSD Audit".