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Board receives audited financial statements for District 1 and District 140; general fund shows positive balance but fund-balance ratio below 10% target
Summary
The school board on April 28 received audited financial statements for District No. 1 and District 140 for the year ending June 30, 2024; auditors issued unmodified opinions but noted fund-balance levels and a small number of findings.
The school board on April 28 received the audited financial statements for Grand Forks School District No. 1 and the federally funded District 140 for the year ending June 30, 2024. Auditors issued unmodified (clean) opinions for both districts.
Brandon Bombach, finance director, presented the general fund financial statement for the first nine months of the 2024–25 fiscal year (through March 31). He reported revenues of roughly $102 million and expenditures near $83 million at that point in the year, leaving a…
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