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Auditor reports two immaterial findings; district fund balance grows to about $7.2 million
Summary
An external auditor presented the 2024 audit to the Mount Olive Township School District board, reporting two immaterial comments, stronger-than-expected fund balances and plans to address a food-service surplus produced largely by federal aid.
An external auditor presented the Mount Olive Township School District—s 2024 financial audit at the Feb. 10 board meeting, saying the report included two immaterial comments but showed improved fund balances.
The audit presentation, delivered to the board by the auditor and followed by explanations from Business Administrator Nicole Schroning and Superintendent Dr. Bangea, said the district collected more in revenue and spent less than expected. "In short, we collected more than we thought we were, and in short, we spent less than we thought we were," the auditor said. He reported the district had roughly $7,200,000 in reserve after recent activity.
The audit included two comments the auditor described as…
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