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Auditors give Faribault Public Schools an unmodified opinion; district posts $2.9M fund-balance increase
Summary
An independent audit presented Jan. 27 found Faribault Public Schools’ 2023–24 financial statements fairly stated, with an unmodified opinion and a $2.9 million increase in fund balance; board approved the audit 6–1.
Faribault Public Schools’ independent auditors told the school board Jan. 27 that the district’s financial statements for the year ended June 30, 2024, received an unmodified opinion and that the district’s general fund balance rose by about $2.9 million.
The audit presentation, delivered by Caroline Stutzman of Bergen KDV, emphasized that the unmodified opinion is the highest level of assurance an auditor issues and that the auditors found the financial statements “fairly stated in all material respects as of June 30, 2024.” The board voted to approve the audit after the presentation; the motion carried 6–1.
Why this matters: the independent audit confirms the district’s statements for 2023–24 and documents where internal controls and reporting require attention. The findings inform the board’s financial oversight and the district’s budget and policy planning.
The audit highlights and context
Stutzman told the board the audit included consideration of internal…
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