Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
District posts clean FY24 audit, reports $21 million general fund balance and capital reserve contribution
Summary
Auditors issued an unmodified opinion with no findings for fiscal year 2024; the district reported a general fund balance of about $21.0 million (approximately 16% of expenditures) and moved $3.9 million into the capital reserve fund.
The Simsbury Board of Education received the fiscal year 2024 audit report showing an unmodified (clean) opinion from auditors Preston, Larson & Allen and no findings on internal controls.
Administrators summarized key audit figures: revenues exceeded budget by about $3.7 million, including $2.1 million from investment income and $744,000 from unanticipated state grants and other town-level revenue increases. Property tax collections…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
