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Independent auditor gives RSU 40 a clean opinion; district fund balance remains above state guidance
Summary
Wipfli partner Christian Smith presented an unmodified (clean) opinion for the fiscal year ended June 30, 2024, reporting revenues above budget by about $66,000 and expenditures under budget by about $950,000; the district ended the year with roughly $4.1 million in fund balance, with unassigned funds near state guidance levels.
An independent audit firm told the RSU 40/MSAD 40 Board that the district’s 2024 financial statements received an unmodified (clean) opinion and the firm reported no internal control weaknesses that required board notification.
Christian Smith, a partner at Wipfli, said revenues for the year ended June 30, 2024, were about $66,000 higher than budget and expenditures about $950,000 below budget, producing an increase in fund balance. He reported the district ended the year with approximately $4,100,000 in…
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