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Auditor: Sachem ended year with clean audit but long-term budget risks remain
Summary
Independent auditors delivered an unmodified opinion on the district's financial statements but warned that recent one-time revenues and continued appropriation of reserves leave the district's budget vulnerable in coming years.
Brent Jensen, a partner with EFPR Group, told the Sachem Central School District Board of Education on Oct. 8 that the firm will issue clean (unmodified) opinions on the district's financial statements, its federal single audit and its extra-classroom activities reports for the fiscal year just ended. Jensen said the auditors found no reportable findings and no material weaknesses or significant deficiencies in internal controls.
The audit showed the district closed the year with $366,600,000 in general-fund revenues against $358,500,000 in expenditures and $9,100,000 in net transfers to other funds, leaving a $1,000,000 decrease in general-fund balance and a total fund balance of $55,200,000. Jensen said about $12,500,000 of that…
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