The State Board of Education selected an audit firm on Monday to review Winston-Salem/Forsyth County Schools’ budget practices.
The State Board voted last month to require the school district to undergo a review of its financial procedures in light of its massive debt, currently totaling around $37 million.
Two firms applied to take on the job. At a special-called meeting, the State Board selected Mauldin & Jenkins, LLC. — the least expensive of the two.
The agreement states the audit of the district’s internal controls must be completed by the end of December, with a formal report and public presentation on Feb. 15.
Winston-Salem/Forsyth County Schools will pay for the review, which will cost just under $98,000.