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Independent audit finds unmodified opinion; Radford schools report revenue swings and capital work
Summary
External auditors issued an unmodified opinion on Radford City Schools’ financial statements and highlighted revenue and expenditure changes tied to one‑time construction grants, declining federal ESSER funds and continuing capital projects. Audit recommendations focused on school activity fund controls and online payment platforms.
An independent audit presentation to the Radford City School Board concluded with an unmodified opinion: auditors reported they believe the division’s financial statements are materially correct.
Diana Epperly, the lead auditor, summarized 10-year historical financial data and said state revenues decreased about $2.4 million largely because a one-time construction grant of about $1.8 million was present in the prior fiscal year and basic school aid fell in the most recent year. Federal revenue fell by about $500,000 — driven in part by a roughly $200,000 reduction in ESSER pandemic-era funds — and a prior ARPA grant and pandemic bonus had also influenced earlier-year balances.
Local operating contributions from the city rose modestly…
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