Sayville UFSD auditors give clean opinions; single-audit compliance report to follow

Auditors from Meraki Smith told the Sayville Union Free School District audit committee that they issued unmodified opinions on the district’s financial statements and on the audit performed in accordance with government auditing standards, and found no material weaknesses or significant deficiencies.

"There were no audit adjustments to the financial statements as originally presented," said Robert, an auditor with Meraki Smith, who led the presentation. He said field work began the week of Aug. 18 and that audit cooperation from the business office was "excellent." He singled out Eleni and Rhonda for assistance during a staff transition.

The auditors highlighted several financial-statement totals: current assets of about $23.8 million and current liabilities of about $18.0 million, producing a working capital (current assets less current liabilities) of roughly $5.6 million and a current ratio of about 1.31. Capital assets, net of depreciation, totaled about $70.4 million after a net increase of about $4.2 million. Bonds payable were reported at about $29.3 million, reflecting current-year bond issuance of about $14.9 million and principal payments of about $2.6 million. The district’s total OPEB liability…