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Alexandria School District receives clean financial audit (Alexandria, MN) Alexandria School District received a clean financial audit opinion, according to information presented Monday, October 18 at the regular board meeting by Trevor Peterson, director of business services. According to information within the 2020-21 financial audit executive summary shared with the board, a clean audit opinion is more precisely referred to as an unmodified opinion. A clean, unmodified opinion is the best designation a school district can receive and it means that the financial statements have been prepared using accounting principles generally accepted in the United States of America (GAAP), do not contain material misstatements, and are fairly presented. Further, the district received a clean, unmodified opinion on compliance for the major federal award programs report. Alexandria School District expends more than $750,000 annually in federal awards; therefore, the district is required to obtain an annual audit in accordance with the Single Audit Act. The district is audited every year by an independent audit firm to ensure sound financial practices and management. The district finished the year with favorable budget variances for both revenues and expenditures, resulting in the unassigned fund balance to stand at total stranger $6,634,382. General Fund expenditures in fiscal year 2020-21 were $54,778,340, meaning the district’s unassigned fund balance for the general fund stands at 12.1% of annual expenditures, which falls within the range of the board-adopted fund balance policy.https://www.voiceofalexandria.com/news/local/alexandria-school-district-receives-clean-financial-audit/article_bf5c75fc-30c6-11ec-a239-df8ece842338.html
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28 by its Republican governor, Ohio is now the 10th state in the U.S. that requires personal finance education at the high school level. So far, it's also the largest, with the legislation spanning more than 600 school districts in the Buckeye State. "I was a banker for 41 years and I saw the results of us not teaching our children financial literacy," said Ohio state Sen. Steve Wilson, chair of the Ohio Senate's Financial Institutions and Technology Committee and a primary sponsor of the bill. "I wanted to do something about it." To raise successful children, teach them about economics, expert says In the last two years, five states — Ohio, Mississippi, North Carolina, Nebraska and Rhode Island — passed legislation requiring that students take a full semester standalone personal finance education course in high school, doubling the total number of states with such a mandate. Such a course is considered the gold standard by Next Gen Personal Finance, a national financial literacy organization. Ohio's bill will go into effect in the 2024-25 school year and cover personal finance topics from basic budgeting to opening a bank account, managing student loan debt and more. "Without that kind of education, we're thrusting kids into a world to learn to manage money through the school of hard knocks," said Brian Page, senior director of partnerships and advocacy at Next Gen Personal Finance who was previously a teacher at Reading High School in Reading, Ohio. He added that high schoolers need personal finance education now, as many are already making decisions around money that will impact their futures.https://www.cnbc.com/2021/11/04/ohio-became-the-largest-state-to-mandate-personal-finance-education-.html
All across America, companies are wrestling with their employees’ demands for flexibility as the pandemic reshapes the future of work. But on Wall Street — known for its hard-charging culture that values face time and long hours, and where toughness is celebrated — it is remarkable. One reason: Wall Street banks posted record profit and revenue during the pandemic, as government stimulus supported consumers stuck at home and companies sought to do deals, proving to bankers and traders that they have little need to work out of the office the way they used to. The attendance numbers are low. The financial industry employs 332,100 people in New York City. In October, only 27 percent of those people came in daily, according to data from a survey conducted by the Partnership for New York City, a business advocacy group. Office attendance at financial-services firms is projected to climb to 47 percent by the end of January as companies lean more heavily on staff, according to the group. Still, that’s a long way off from the 80 percent that was typical before the pandemic, accounting for employees who were traveling, on vacation or sick. “The bigger institutions are having more difficulty getting people back,” said Kathryn S. Wylde, chief executive of the Partnership for New York City. “From the employer perspective, the longer this goes on, the more difficult it is to get people back, the greater their frustration.” Some large banks ordered their employees to begin returning to the office over the summer.https://www.nytimes.com/2021/11/24/business/wall-street-remote-work-banks.html