NEWS RELEASE

NEWS RELEASE TrustPoint, LLP, Certified Public Accountants and Consultants, today released an audit report on United Community School District, Boone, Iowa. FINANCIAL HIGHLIGHTS: The District's revenues totaled $8,394,571 for the year ended June 30, 2025, a 2.01% increase from the prior year. Expenses for District operations for the year ended June 30, 2025, totaled $8,984,727, a 13.09% increase from the prior year. The increase in revenues is due primarily to an increase in local revenue. The increase in expenditures is attributed to an increase in instruction and support services resulting from salaries and benefits. AUDIT FINDINGS: TrustPoint, LLP reported one finding related to the receipt and expenditure of taxpayer funds. The finding is found on pages 63-64 of this report. The finding addresses a lack of segregation of duties. TrustPoint, LLP provided the District with recommendations to address the finding. The finding discussed above is repeated from the prior year. The Community School District's Board of Education have a fiduciary responsibility to provide oversight of the Community School District's operations and financial transactions. Oversight is typically defined as the "watchful and responsible care" a governing body exercises in its fiduciary capacity. A copy of the audit report is available for review on the Auditor of State's website at http:// auditor.iowa.gov/reports/index.html. July 2 2026 LIOW0545082