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Unaudited 2024–25 results: Avon Grove fund balances drop ~$7.4M; audit timing tied to federal single‑audit guidance
Summary
CFO Mr. Carsley told the Committee of the Whole on Oct. 14 that preliminary, unaudited 2024–25 results show an approximate $7.4 million reduction in combined fund balances (ending combined balance ~ $37.3 million), and cautioned the audit remains open pending federal single‑audit guidance.
Mr. Carsley presented a preliminary, unaudited look at Avon Grove School District’s 2024–25 financial results during the Committee of the Whole budget portion of the Oct. 14 meeting, stressing the numbers are subject to change pending federal single‑audit guidance.
The most significant summary figures presented:
- General fund: beginning fund balance ~$31.0 million; estimated ending fund balance ~$28.4 million. The year used an estimated $2.6 million of fund balance on the unaudited numbers; the district’s approved budget had anticipated a larger use of fund balance (about $5.8 million) where roughly $1.2 million is designated as a budgetary reserve.
- Revenues/expenditures: total general‑fund revenues were reported at approximately $111.0 million (around $2.0 million below…
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