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External audit: district receives clean opinion on financials; auditors flag unassigned fund balance and personnel file gaps
Summary
An external auditor plans to issue a clean opinion on East Ramapo’s 2024–25 financial statements, reported a $74.8M year‑end fund balance and flagged the unassigned fund balance (10.9% vs. the 4% guideline) and personnel‑file documentation as findings; trustees requested reconciliations of earlier internal estimates.
The district’s auditors told the board they intend to issue an unmodified (clean) opinion on the financial statements for the year ended June 30, 2025, but also identified findings the district must address.
An audit representative said the general fund increased approximately $2.7 million from the prior year to a $74.8 million fund balance at June 30. The auditors noted…
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