Lexington Three receives clean audit report

Batesburg-Leesville, SC - An audit of Lexington County School District Three’s financial statements for the 2016-2017 fiscal year resulted in the district receiving an “Unmodified Opinion” determination. An “Unmodified Opinion” is the highest opinion that can be assigned to a district. It is defined, by general definition, as an auditor’s opinion “that financial statements are presented, in all material respects, in accordance with applicable financial reporting framework. Simply, unmodified opinion is a clean opinion.”

McGregor & Company, a certified public accounting firm with locations all across the state, audited Lexington Three’s financial statements for the period ranging from July 1, 2016 through June 30, 2017 “in accordance with auditing standards generally accepted in the United States and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.” Those standards require that audits are conducted to obtain reasonable assurance as to “whether financial statements are free from material misstatement,” according to the McGregor & Company auditors’ report that is dated November 27, 2017.

Lexington School District Three has a history of receiving “Unmodified Opinions” on annual audits. The results of five years worth of audits, including the one most recently conducted, are listed on Lexington Three’s website. To view these documents, visit www.lex3.org and refer to the “Finance” section under the “Departments” tab at the top of the homepage. The folder is titled “Audited Financial Statements.”