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Auditors give Freetown-Lakeville unmodified opinion for FY24 but report material weakness in year‑end monitoring
Summary
Auditors presented an unmodified opinion on the district’s FY2024 financial statements but reported a material weakness tied to untimely monitoring and year‑end closeout; administration said corrective action plans are underway.
Auditors from Lynch, Meridian and Associates reported to the Freetown-Lakeville Regional School Committee on May 7 that they issued an unmodified opinion on the district’s FY2024 financial statements while also reporting a material weakness in financial reporting related to untimely monitoring and year‑end closeout.
The auditors told the committee that an unmodified opinion means users can rely on the district’s financial statements. At the same time, the auditors reported “a material weakness in financial reporting,” explaining that the condition reflected a reasonable possibility that a material misstatement would not be prevented, detected, and corrected on a…
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