Limestone Township Fire Protection District

The audit of the financial statements for Limestone Township Fire Protection District for the year ended May 31, 2020, revealed several key findings. A material adjustment of $18,933 was made to reclassify insurance and retirement payments to the appropriate financial statement line. The audit also addressed the management's estimate of depreciation expense, confirming its reasonableness in relation to the financial statements. Additionally, the proceeds and repayment of short-term debt, along with the reclassification of turnout gear expenses, were discussed. Adjustments were made to property tax revenues, and capital asset disposals and additions were recorded. The audit also covered the reclassification of interest payments on an ambulance loan.