Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Tiverton completes FY24 audit with clean opinion; administration warns FY25 shortfall remains under review
Summary
Administrators reported a clean FY24 audit with no federal findings and presented a year‑to‑date FY25 budget picture showing a projected shortfall; they expect a clearer FY25 deficit figure by early August and will meet with town officials to address any remaining gap.
Brandon Andrade and district staff reported to the Tiverton School Committee on June 10 that the district’s FY24 audit received a clean opinion and that auditors identified no findings in the school‑related federal funding reviews.
Andrade said the audit process required additional work because both the district and the auditor had new personnel, but that the audit ultimately produced no findings. He noted the district had two of five federal funding reviews selected for audit and both returned clean results.
On the FY25 budget, Andrade presented year‑to‑date (through May) figures showing spending of approximately $32 million and a year‑to‑date projected deficit of $780,728. He told the committee he expects to have a firmer estimate of the FY25 final deficit by Aug. 1–15 after final accruals are processed and summer program (ESY) costs are finalized. He said prior budget actions and monitoring reduced the projected shortfall substantially from earlier estimates but that the district will continue to coordinate with town leadership on responses.
Committee members requested that district leaders attend the town council presentation of audit results in future years so the committee can question auditors directly. Administrative staff said they would pursue greater coordination and thanked town staff and auditors for collaborative work that produced the clean audit report.
Separately, members were briefed on a recent town council approval of capital funding ($312,605) for district technology needs; administrators reiterated their preference to build technology costs into operating budgets rather than rely on annual capital requests.
No formal vote was required for the audit presentation or the budget update; staff said they will provide updated figures after year‑end close and in July.
