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Carmel Unified audit shows unmodified opinions; board approves financial statements for FY 2023–24
Summary
Independent auditors reported unmodified opinions on the district’s financial statements and federal/state compliance for the fiscal year ended June 30, 2024. The board approved the audited financial statements after the presentation.
The Carmel Unified School District Board of Education approved the audited financial statements for the fiscal year ended June 30, 2024, after a presentation by Christy White, partner at the auditing firm engaged by the district. White said, "in our opinion, the financial statements are fairly presented in all material respects." She also reported unmodified opinions on federal and state compliance and said the audit found no reportable instances of noncompliance.
Key figures from the audit: the district reported a general fund ending balance of a little over $30,000,000; a net positive change of about $2,000,000 in the general fund for the year; a reported government-wide net position of roughly $9.6 million; and an actuarial estimate of other post-employment benefits (OPEB) of about $11.5 million. The auditors also reviewed long-term liabilities including general obligation bonds and pension liabilities tied to CalPERS and CalSTRS.
Auditor Christy White told the board the district had no significant deficiencies in internal control and no audit findings in the current year; she said the prior-year finding had been corrected. White praised the district business office for timely cooperation during the audit. Chief Business Official Yvonne Peroz introduced the audit and answered operational questions.
Motion and vote: a board member moved to approve the audit report for the fiscal year ended June 30, 2024; the motion was seconded and passed on a recorded roll-call vote of five in favor, zero opposed.
Why it matters: an unmodified opinion on financial statements and compliance means the auditors found the district’s financial reporting and required compliance procedures materially correct and properly presented, a key element for public confidence and state/county reporting requirements.
Board members asked clarifying questions about “deficit” language, long-term liabilities and the audit schedule; the auditor explained how going-concern and reserve levels are evaluated and described the two main segments of audit fieldwork.
