Heather Lewis, an external auditor with MMB, told the Board of Education the firm issued an "unmodified opinion" on the district's 2024–25 financial statements, meaning the financial statements were "materially correct and in accordance to generally accepted accounting principles." She added the auditors reported a single finding related to the unassigned fund balance being "in excess of 4%," and that the previously reported finding about adjusting journal entries was not repeated this year.

Superintendent Jody Monroe and business office staff reviewed the major revenue and expense drivers behind the year-end results. Administrators reported a roughly $4.5 million operating surplus for 2024–25, driven in part by an unexpected pilot payment—about $618,000—that was received in January and used as revenue to help balance the 2025–26 budget. The district also realized roughly $600,000 more in interest and rent income than budgeted after changing some short‑term investment strategies, and the business office credited efforts to maximize daily liquidity through New York Class.

Monroe described the district's current reserve posture and recommended transfers. Key figures presented to the board included an undesignated fund balance of about $6.8 million (reported as roughly 5.9% of the operating budget at year‑end), a workers' compensation reserve at an $800,000 floor, an employee‑benefit reserve near $3.3 million, and retirement reserves (TRS/ERS) of roughly $6 million. The district's 2022 capital reserve was cited at about $16.5 million; voters approved a separate 2025 capital reserve of $30 million in May 2025. Monroe explained a December 2, 2025 capital‑project proposition would propose using the 2022 capital reserve to offset part of a proposed $60 million project.

The auditors also issued a qualified opinion on the extra classroom activity funds, a common outcome the auditor attributed to limited local controls over collections before bank deposit. Heather Lewis said the district could not yet be issued a single audit opinion because required federal guidance remained in draft at the time of the presentation.

On expenditures, the board heard that fringe benefits were a material pressure: health insurance costs rose by about $1.9 million (roughly 11% year over year), driven in part by pharmaceutical utilization. Food service required a modest transfer from the general fund (~$200,000) for 2024–25; administrators said universal free meals, and additional federal and state support, are expected to reduce that subsidy in 2025–26.

Board members asked about the large instructional surplus (~$2 million) and were told that timing and vacancies (positions not filled during the fiscal year) commonly produce such variances; administrators said they will look for ways to reassign or use unspent instructional funding where appropriate.

The presentation closed with a reminder that the single audit remained in draft pending federal guidance and that the business office recommended specific transfers to various reserves at the board's upcoming action consideration.