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District auditor reports $17 million in fund balance, most held in reserves
Summary
At the Dec. 9 Roxbury Township School District board meeting auditor Mon Li reviewed the 2023–24 fund balance and reserves, saying the district holds roughly $17 million overall but most is restricted; there were no formal audit recommendations.
Mon Li, an auditor with Niswacha Auditing, told the Roxbury Township Board of Education on Dec. 9 that the district’s overall fund balance for fiscal year 2023–24 was ‘‘a little over $17,000,000,’’ but that most of that amount is tied up in restricted reserves.
The auditor’s presentation outlined the make-up of the balance: ‘‘a little under $9,100,000 in encumbrances’’ for orders placed but not received as of June 30, about…
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