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District auditor reports clean FY2025 financial audit; federal single-audit still pending
Summary
Auditor Doug presented a cash-basis FY2025 financial audit showing no findings in the financial statement audit, a roughly $3.2 million operating shortfall driven by health-insurance timing and the end of ESSER funds, and noted the federal single-audit remains pending until OMB publishes guidance.
An auditor for Effingham CUSD 40 told the school board the district’s FY2025 financial statements are in order but that a federal compliance review remains incomplete.
"We are happy to say that we have found everything in compliance," auditor Doug said, summarizing the financial-statement portion of the audit. He explained the audit was prepared on a cash basis and that the Office of Management and Budget had not finalized federal program audit guidance, so the district’s report excludes the federal single-audit section for now.
Doug told the board that expenditures across the district’s four major funds exceeded receipts by…
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