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External auditors qualify one finding but report no material weaknesses in Mineola UFSD fiscal 2025 audit
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Summary
Naraki Smith presented the district's fiscal‑year 2025 audit: auditors qualified the general‑fund opinion because the district recognized about $1.4 million in property taxes outside the 60‑day window, but found no material weaknesses; the report showed positive general‑fund operations, a $1.7 million negative change in governmental funds, and substantive capital spending.
Christopher Angatta of Naraki Smith summarized the Mineola Union Free School District’s audit for the year ended June 30, 2025, and explained why the firm issued a qualification on the general‑fund opinion.
"Because the district recognized property tax revenue about 65 days after year‑end, outside of the 60‑day window, and because of the material nature of that amount — about $1,400,000 — we had to qualify our opinion with respect to the general fund," Angatta said. He emphasized the qualification related only to the classification and timing of that revenue and not to evidence of misappropriation or internal control failures.
Angatta reported that Naraki Smith did not identify any material weaknesses or significant deficiencies in internal control and did not have recommendations to offer as a result of this year’s audit. "I am happy to report to the board this evening that we did not cite the district for any material weaknesses or significant deficiencies in internal control," he said.
The audit included other fiscal details the auditor highlighted: governmental funds experienced a negative change in fund balance of about $1,700,000 for the year; the district reported roughly $77.6 million in capital assets (net of depreciation), current‑year capital project expenditures of about $12.1 million, a reduction in long‑term indebtedness of about $1 million, an increase in the other post‑employment benefits (OPEB) obligation of about $13.2 million to a total of roughly $185 million, and a teacher pension plan net asset and ERS liability in the low‑millions range.
Trustee Patrick Talti and others clarified the audit qualification’s cause: Talti noted the district received tax revenue several days after the normal schedule because of a county timing issue, and Angatta agreed it was not due to a district control failure. Angatta also said the firm expects to perform a single audit of major federal programs once the Office of Management and Budget issues its compliance supplement.
Copies of the full audit and the extra‑classroom activity fund reports are available on the district website, Angatta said. The board accepted the presentation during the meeting; no board motion to reject or amend the audit was recorded during the session.
