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Auditors give Middlesex Borough School District a clean opinion for 2023–24
Summary
Outside auditors reported a "clean audit opinion" for the district's 2023'24 financial statements, noting slightly lower surplus and recommending use of capital reserves for planned projects; the board had no required corrective actions.
The Middlesex Borough School District received a clean audit opinion for its 2023'24 fiscal year, outside auditors told the board at its December public meeting.
Bob Swisher, a partner with Complete Cleaning Company and lead presenter for the audit team, said the firm's testing of payroll, cafeteria, grants and other records led to a formal opinion that the district's financial statements "are fairly stated, and there are no, comments to the audit reports. You're not gonna be required to do a corrective action plan." He said this follows a similar outcome the prior year.
The audit presentation said district surpluses were down slightly from the previous year'about $100,000, or roughly 1 percent, according to Swisher. He noted the district had increased its maintenance reserves and counseled that the board "should spend some of your capital reserve this year" because projects are underway and reserve balances are declining.
Swisher and his team said routine compliance testing found no material problems and that the additional state aid received this year helped the district's position. A board member asked how common it is for districts to receive a clean audit; Swisher replied it is "not regular" and depends on rapidly changing state requirements.
Board business administrator and board secretary Annette Giordano was thanked by the auditors for making records available; Swisher said that level of preparation made the audit process smoother.
No motion or formal board action was required as part of the report; the auditors presented findings and responded to questions from board members.
The board will enter budget season in the new year, and the superintendent and business office noted that the audit's information will inform that process.
