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Independent Audit Gives Parkway Highest Marks as Financial Challenges Continue

An independent audit, conducted by the certified public accounting firm of Kerber, Eck and Braeckel, has given Parkway School Districts financial practices a "clean bill of health," confirming sound financial management of district finances. Parkway was given an unqualified opinion on its financial statements, the highest distinction available in the auditing profession. The audit of Parkways 2004-2005 finances thoroughly reviewed the districts financial reports, internal control systems and management procedures. "We're very pleased with the independent validation of our accounting practices and procedures," says Mark Stockwell, chief financial officer. "This doesn't, however, diminish the financial pressures facing Parkway in the coming years," notes Superintendent Robert Malito. "We must continue look for additional ways to increase revenue and balance our budget." Parkway was one of only four Missouri school district's to receive the Certificate of Excellence in Financial Reporting Award from the Association of School Business Officials for its 2003-2004 financial report and the District intends to submit the 2004-2005 report for the same award.