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School board accepts clean audit showing $68.2 million negative net position driven by long-term liabilities
Summary
External auditors presented a clean opinion on the district's financial statements and single-audit reports; the audit shows a $68.2 million negative net position driven by long-term debt, pension and OPEB liabilities. The board voted to accept the audit.
East Stroudsburg Area SD trustees voted to accept the district's 2024 audited financial statements and federal single-audit after a presentation by Zelopoff & Axelrod.
Auditors told the board the firm issued a clean opinion on the financial statements and on federal program testing. Auditor Rachel Bowdger said the district's combined governmental and business-type activities show a negative net position of about $68,200,000, reflecting long-term debt,…
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