External auditors give White Plains district a clean report; note pension and OPEB liabilities
Summary
Nawrocki Smith reported a clean (unmodified) audit opinion for fiscal year ended June 30, 2025, with district fund balances within the New York State 4% statutory limit and notable long‑term liabilities including OPEB and bonds payable.
Nawrocki Smith presented the Board of Education with the White Plains City School District’s audited financial statements for the year ended June 30, 2025, and issued an unmodified (clean) audit opinion.
Christopher Angata, partner at Nawrocki Smith, told the board the firm completed its audit in accordance with professional standards and commended the district’s business office for timely and complete responses to audit requests. “The financial statements of the district present fairly in all material respects in accordance with our professional standards,” Angata said.
Why it matters
A clean audit reassures taxpayers and the board that district financial statements conform to accounting standards and that auditors found no material weaknesses in internal control. Angata reported there were no material weaknesses or significant deficiencies and that prior recommendations had been implemented.
Key financial highlights presented
- The district operated within the New York State tax cap and had a positive change in the general fund balance for the year; fund balance amounts complied with the New York State statutory 4% limit, the auditor said. - District capital assets, net of depreciation, totaled about $188 million. - Bonds payable were about $33.5 million, with a current‑year principal payment of roughly $8.4 million. - An energy performance contract balance of roughly $909,000 remains with a current‑year principal payment of about $896,000; auditors noted 2025–26 will be the final year of that contract. - The total other post‑employment benefits (OPEB) liability was reported at about $403.9 million, with an actuarially determined increase of about $7.5 million this year and pay‑as‑you‑go payments near $10.5 million. - The district’s share of the employer retirement plan liability was about $7.7 million; the teacher retirement plan produced a shareable asset position of about $16.6 million for the district during the measurement period.
The board voted to accept the external auditor’s annual financial statements, the extra classroom activity funds financial statement and related documents as presented; the motion was moved, seconded and approved by voice vote.
Next steps and oversight
Angata said the firm will issue a management letter if any internal control recommendations are identified; however, he reported no current‑year recommendations. Marcy Moskowitz, the district’s business administrator, and the business office were thanked for their work preparing records and responding promptly to audit requests.
