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External auditor finds no material deficiencies; board approves finance and construction items
Summary
External auditors told the Horseheads Central School District board its financial statements are fairly stated with no material weaknesses. Trustees approved a package of finance and construction items and discussed reserves, long-term liabilities and a $169 million retiree health obligation shown on the entity-wide statement.
The Horseheads Central School District’s external auditor on Sept. 18 told trustees the district’s financial statements were fairly stated and that auditors found no significant deficiencies in internal controls while highlighting several long-term obligations and reserve considerations.
Mister Zuber, the district’s external auditor, briefed the board on the 2024–25 audit and said the financial statements received the opinion the board should expect. He noted revenue and expense variances, use of fund balance to balance the 2024–25 budget, and an increase in fund balances this fiscal year.
Key figures discussed during the presentation included a $3.7 million appropriation of fund balance to support the 2024–25 adopted budget (the 2025–26 appropriation shown in the discussion…
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