(Graettinger)--The Graettinger-Terril Board of Education has issued a statement regarding discrepancies identified during an internal review of shared-service financial records.

A statement released by the board says, recently, following an internal financial review, the district identified discrepancies in the reconciliation of shared-service financial records between Graettinger-Terril and Ruthven-Ayrshire.  According to the statement, these discrepancies related to historical reporting and reconciliation processes that did not fully reflect the appropriate flow of funds consistent with the formal sharing agreements. The board says they are taking immediate action to correct and prevent future reconciliation issues. 

Key steps underway include engaging a third-party to conduct a full review and reconciliation of financial transactions related to sharing agreements between Graettinger-Terril and Ruthven-Ayrshire, dating back to Fiscal Year 2022;  implementing improved internal controls, including clearer documentation requirements and enhanced oversight procedures to ensure all sharing costs are reflected and reconciled in the appropriate fiscal year; and requiring more robust and detailed financial reporting to the Board.

The statements adds that the Graettinger-Terril District is operating under fiscal constraints as they continue dealing with rising expenses and declining retained revenues caused in part by declining enrollment, making it especially important that public dollars are appropriately accounted for and used responsibly.

The board says these corrective actions reflect its commitment to strengthening financial operations and ensuring the long?term viability of Graettinger-Terril District. Anyone with questions is asked to contact a Graettinger-Terril School Board member.