District Releases 2023-24 Financial Audit Results

Redwood City School District (RCSD) has received the results of its annual financial audits, confirming strong fiscal management and transparency in the use of public funds. The audits, conducted by Eide Bailly LLP, covered the district’s overall financial operations as well as funds from the 2015 Measure T and 2022 Measure S bond initiatives. The reports were presented to the Board during its February 5, 2025, Board of Trustees public meeting.

Bond Program Audits Presented to the School Board:

• Measure T Building Fund Audit (2015) – The audit confirmed that expenditures were properly accounted for and aligned with authorized school facility improvement projects.
   

• Measure S Building Fund Audit (2022) – Similarly, this audit found that funds were managed appropriately and spent in compliance with legal requirements to support ongoing school modernization efforts.

Board President Mike Wells commended the district for its financial oversight, stating,

“Congratulations to the district. There’s multiple levels of oversight on this money that the voters have entrusted in the district, and it’s nice to see that this audit has come in clean.”

Financial Operations Audit Presented to the School Board:

• Annual Financial Audit Report for 2023-24 – The district’s finances for the school year ending June 30, 2024, were carefully reviewed to ensure accuracy and compliance with financial regulations. The audit confirmed that the district’s financial records were in good order and followed standard accounting rules. Auditors also reported that any mistakes were corrected by the district once identified, ensuring accurate financial reporting.

These audits reinforce the district’s commitment to financial transparency and accountability.