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Petersburg CFO flags FY24 audit issues, pushes needs-based FY26 budget and capital plan
Summary
At the Feb. 5 Petersburg City Public Schools board meeting, CFO Mathias Graywood reported FY25 spending and said FY24 audit work remains open; board members pressed for a needs-based FY26 budget, a capital improvement plan and clearer financial reporting tied to a planned budget workshop and public hearings.
Petersburg City Public Schools' chief financial officer Mathias Graywood told the school board on Feb. 5 that auditors have received outstanding documents and that the district is awaiting completion of its fiscal-year 2024 audit while the finalized FY2023 audit is complete.
Graywood told the board: “All documents have been submitted to the auditors, and we're awaiting completion of the FY 2024 audit.” He also presented month-to-date budget figures and projections: “As of 01/31, the FY 2025 budget is $67,000,000. We've spent $33,000,000, and the balance is $34,000,000,” and said overall for all funds the district budgeted about $94,000,000, had spent roughly $44,000,000 and carried a remaining balance of about $50,000,000.
Why it matters: board members raised that the division could face an audit finding tied to a roughly $776,000 negative balance carried into FY25 from FY24 and asked for clearer,…
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