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External audit gives Superior School District an unmodified opinion; reserves and debt reviewed
Summary
External auditors issued an unmodified opinion on the district's 2023-24 financial statements and reported a roughly $1 million positive change in fund balance, $17 million in unassigned reserves and a net reduction in general obligation debt.
Brock Guyen, the principal in charge of the district's annual external audit, told the Board of Education's Committee of the Whole on March 3 that the audit of the 2023-24 fiscal year received an unmodified opinion, the highest level of assurance an auditor issues.
The unmodified opinion means the financial statements are presented fairly in all material respects, Guyen said. He summarized results including a positive change in fund balance of a little more than $1 million, an unassigned fund balance of about $17,000,000, and a net reduction in tax-supported general obligation debt from about $75 million to just under $68 million.
The unmodified opinion matters because…
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