TrustPoint, LLP, Certified Public Accountants and Consultants, has released an audit report on Keystone Area Education Agency 1 in Elkader, Iowa. Financial highlights: The AEA’s revenues totaled $24,085,662 for the year ended June 30, 2025, a 9.19% decrease from the prior year. Expenses for the AEA operations for the year ended June 30, 2025 totaled $23,486,493, a 9.87% decrease from the prior year. The decrease in revenues is due primarily to a reduction in operating grants and contributions and property tax revenue, while the decrease in expenses is attributed to a reduction in instructional staff support and administrative expenses. These reductions are attributable to House File 2612, which brought significant changes to the operations, funding and governance of the AEA system. A copy of the audit report is available for review on the Auditor of State’s website at https://auditor.iowa.gov/audit-reports.
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