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District auditors give Ossining UFSD a clean opinion; $1.24 million surplus, reserves used to fund capital
Summary
External auditors reported an unmodified (clean) opinion for the fiscal year ended June 30, 2024, noting no material weaknesses. The district posted an approximately $1.24 million surplus and moved multi‑million transfers to support capital projects and debt service; auditors flagged routine controls issues in student activity deposits.
The external auditors for the Ossining Union Free School District issued an unmodified (clean) opinion on the district’s financial statements for the year ending June 30, 2024, and reported no material weaknesses, the district’s audit presentation showed.
In a summary presentation to the Board on Jan. 22, Alan, partner with PKF O’Connor Davies, said the firm "issued an unmodified opinion," and found that the district’s financial reporting was prudent. He told the board there were no material misstatements, no instances of suspected fraud, and the auditors encountered "no material weaknesses." The audit also recorded two management comments related to inactive student activity accounts and three deposits that were made late against a 72‑hour deposit expectation.
The nut graf: the audit confirms the district closed the year with a modest operating surplus and reserves in place to support upcoming capital work, but trustees and staff discussed how state aid variability and the timing of capital transfers…
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