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Board auditor reports no findings in West Milford school district audit
Summary
The district auditor told the board the 2024-25 audit contained no findings or recommendations; auditors noted healthy fund balance and that reserves were used for intended capital and maintenance purposes.
Matt Wilcox of Wilcox & Company presented the board's annual audit and said the report contained no audit findings for the district. "You will see there are none," Wilcox told the board, referring to the finding-and-recommendations page.
Wilcox said the district had a strong operating year, that fund balance and reserves remained healthy, and that the district used reserves for capital and required maintenance costs during the fiscal year. He noted the district's excess surplus decreased from the prior year and discussed how excess-surplus calculations factor into next-year budgeting.
Board members responded with recognition of the business office and finance team; multiple trustees thanked Business Administrator Schultz and district staff for their work preparing materials and ensuring compliance.
Wilcox encouraged continued attention to long-term debt and lease rates, noting higher interest on recent equipment leases and the district's outstanding roof bond due to retire in 2029. The auditor said those items are normal areas for board attention but did not represent audit findings.
No board action was required from the presentation; the auditor left the meeting after the report.
