PRINCE FREDERICK, Md. — Calvert’s Board of Education (BOE) heard the results of the district’s annual audit at the Nov. 13 meeting — and the news is positive. External engagement partner Chris Lehman of SB & Company said the team found no significant deficiencies or material weaknesses in Calvert County Public Schools’ (CCPS) systems and processes.
The group audited the June 30, 2025, financial statements. Because CCPS receives more than $750,000 a year in federal funds, the district was also subject to a compliance audit. One of the main goals of the audit is to assess and test the design, operations and internal controls of the schools’ finances. They then test to see if those controls are being used correctly and effectively.
This process includes breaking down many of the purchases and transactions made by the district over the years and is more than just reconciling budget and cash flow. The audit also looks at whether transactions are being coded properly and financial decisions are coded to the correct line item.
Lehman said the team found no material weaknesses, deficiencies or instances of fraud that he’d be required to bring to the board’s attention.
Board members noted that revenue had dropped from the previous year’s audit and speculated that it could be a combination of lowered enrollment or due to the state of Maryland’s funding release schedule.
Lehman’s group is still working on another aspect of the audit, called a “single audit,” which determines if the financial statements are fairly presented. Lehman did not provide an expected delivery date for that audit.
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