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External auditor issues unmodified opinion for Erie School District; general fund rises about $9.5 million
Summary
Zelenkosti Axelrod partner Brian Crucial reported the district’s fiscal year ended 6/30/2024 with an unmodified audit opinion, no material audit adjustments and no single‑audit findings; the general fund increased about $9.5 million and unassigned fund balance totaled about $31.8 million (roughly 13% of expenditures).
Brian Crucial, partner on the district’s audit engagement with Zelenkosti Axelrod, presented the independent audit results for the year ending June 30, 2024, and told the board the auditors would issue an unmodified opinion.
"We didn't have any issues as far as material audit adjustments or anything," Crucial said, and he reported the audit fieldwork and single‑audit testing were complete. The auditors tested two major federal programs — Title I (Education Department) and the Child Nutrition cluster — and found no programmatic findings related to federal awards.
Crucial reviewed the district’s required communications: the audit was performed in accordance with government auditing standards, independence protocols were observed, and key accounting estimates (pension and OPEB liabilities, capital asset depreciation) were actuarially or otherwise supported. He said there were no significant unusual transactions, no uncorrected misstatements and no internal‑control deficiencies identified in tested areas such as disbursements, receipts and payroll.
On operating results, Crucial reported the district’s general fund balance increased by about $9,500,000 from fiscal 2023 to 2024, compared with a $1,000,000 increase the prior year. He attributed the change primarily to lower capital spending and shifts in revenue mix: federal revenues fell by roughly $8,000,000 as ESSER grant funding wound down, while state subsidy increases offset those reductions. Local revenues (property and transfer taxes) were largely consistent year to year.
Crucial said the district’s unassigned general fund balance stood at approximately $31,800,000, or about 13% of general fund expenditures, a range auditors said is consistent with maintaining a prudent reserve. Draft reports remain subject to finalization; Crucial asked the board to submit any changes to the audit team within days so the firm could file required reports with the Federal Audit Clearinghouse and state auditors.
Board members asked about timing; auditors said delays this year were related to staff changes and a new accounting system and that the usual target for final reports is year‑end earlier in the cycle.
