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Auditor gives district a clean opinion but flags fund-balance shortfall; board to consider budget revisions
Summary
LB Carlson issued an unmodified (clean) opinion for FY25 but reported a roughly $1.4 million decline in fund balance and an unassigned-fund-balance rate of about 7.6% (below the board's 8% policy). The board accepted the audit and was advised to consider budget revisions.
PRIOR LAKE, Minn. — The Prior Lake-Savage Area Schools board on Tuesday accepted the district's fiscal year 2025 audit after an external auditor issued a clean opinion but highlighted a decline in the district's fund balance and recommended attention to the district's fund balance policy.
"We were able to issue an unmodified opinion on the basic financial statements," said Jim Eichton of LB Carlson CPAs during the presentation to the board. "We did not have any findings to report this year; last year's findings were…
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