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Commentary
The last of the 28 school districts in Orange County in Southern California has released its annual audit for the year ending June 30, 2023.
Magnolia School District’s audit was completed by its new outside independent Certified Public Accounting firm on Oct. 3, 2024, and released to the public on Nov. 4. The other 27 school districts completed their audits on or before Feb. 21 of this year.
Magnolia School District recently changed auditors, which caused the eight-month delay in providing the annual ranking of Orange County’s school districts. The reason for the change in auditors is a sad one.
In a written statement from the District’s Chief Business Officer, Bill Bailey, “The delay occurred due to an embezzlement scheme by a former employee that was discovered in August 2023. The former employee has been tried, convicted and is currently incarcerated for this crime. In May 2024 it was determined that it was necessary to change audit firms.”…
