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MSAD 52 auditors give unmodified opinion; district posts $1.9 million FY24 surplus
Summary
RHR Smith and Company presented the FY24 audit to the MSAD 52 board, reporting an unmodified opinion, $1.9 million net positive budget variance, a $7.7 million general fund balance and recommendations on cash handling and general ledger reconciliations.
RHR Smith and Company told the MSAD 52 board that the district's fiscal year 2024 financial statements received an unmodified opinion and that the district ended the year with roughly $1.9 million in combined surplus from revenue and expenditure savings.
Sam Oganoff of RHR Smith, one of the auditors who presented the report, said the firm issued "the highest opinion that we offered or issue, which is an unmodified opinion." The auditors delivered standard letters accompanying the audit, including a SAS 114 communication that flagged no major disagreements with management and a separate management letter with procedural recommendations.
The audit presentation to the board summarized key figures: total assets of about $34.8 million for FY24, capital assets near $23 million (about 66% of total…
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