The district's independent auditor, Paul Lurch of Lurch, Vincy & Bliss LLP, told the Glen Rock Board on Nov. 10 that the firm issued "unmodified opinions on the financial statements as well as the single audit," with no significant deficiencies, material noncompliance or illegal acts reported.

Lurch said the district is a low-risk auditee for federal programs and highlighted several fund balances and reserves. He reported a general fund ending fund balance of $10,014,000 and said the unassigned (rainy-day) portion equates to about 2% of expenditures (roughly $1.5 million), which matches the statutory floor the district is working within. The capital project fund balance was described as roughly $6.6 million, and the district's capital reserve ended the year at $3.7 million after drawing $4.2 million for recent improvements.

Board members asked about reserve strategy and how the district compares to peers. Lurch advised that maintaining and building reserves helps fund projects without asking voters for debt approval, but cautioned against treating excess surplus as a recurring crutch. He noted the district received roughly $1.9 million in federal pandemic-era (ARPA/ESSA) funding over the audit period and said federal expenditures tested totaled about $1.4 million. Lurch also reviewed GASB pronouncements affecting reporting (GASB 96 and a new standard on compensated absences) and explained why the district qualified for limited single-audit testing as a low-risk auditee.

The presentation closed with the auditor pointing the board to the management report page for more detail and noting there were no audit recommendations in the management letter. Board members thanked the auditors and the business office for their work; the board chair and administration noted the business office team's role in maintaining the district's financial position.

The board did not take further action on the audit report beyond discussion during the meeting; the report will remain available as part of the official audit record and exhibits.