Somers schools receive clean audit; general fund balance rises, auditors flag no internal control weaknesses

Jeff Shaver, partner at accounting firm O'Connor Davies, told the Somers Central School District Board of Education on Nov. 4 that the firm issued an unmodified — or "clean" — opinion on the district’s financial statements for the fiscal year ended June 30, 2025. "The financial statements are fairly stated in all material respects," Shaver said, and he added the audit did not identify material weaknesses or significant deficiencies in internal controls.

Shaver reviewed the district’s general fund results, saying the original revenue budget was $109,022,000 and actual revenues were $110,410,000. He told trustees the district spent about $106,229,000 versus an original appropriation of $110,500,000, producing a positive variance on the expenditure side of about $3,933,000. Shaver summarized those variances as producing a budgetary surplus the audit described as roughly $5.3 million and said the general fund balance rose from $16,753,000 at the start of the year to $20,521,000 at year end.

Shaver noted the majority of the fund balance is restricted — including the tax cap reserve (about $8 million), retirement contribution reserves (just over $4 million) and a voter‑approved capital projects reserve (just under $2 million) — and that the district’s unassigned fund balance was $4,539,000, which he said is at New York State’s 4% limit for unassigned balances relative to the next year’s budget.

The auditor also reviewed the district’s outstanding debt, reporting roughly $26 million in bonded debt, about $7.7 million in energy‑performance contract debt and $921,000 in finance‑purchase debt, for total outstanding debt of approximately $34.6 million as of June 30, 2025. Shaver told the board that the district will finalize its federal single audit once the federal compliance supplement is released; until then, that part of the reporting remains on hold.

Board members praised the business office and thanked audit staff for their work. Board president thanked the business office and auditors for preparing the district’s financial statements and noted the audit materials would be posted to the district website following the meeting.

What happens next: the board accepted routine business items later in the meeting; any formal acceptance of the audit and related documents will appear on the district website and in the board packet for the board’s workshop/next meeting as noted during the presentation.