Luke Graydon, principal at audit firm CLA, told the Cloquet Public School District board on Nov. 24 that auditors are issuing a clean opinion on the district’s 2024–25 financial statements and found no reportable internal‑control or legal compliance issues. Graydon said a change in accounting for compensated absences required disclosure adjustments on government‑wide statements but did not affect fund‑level results.

Graydon also told trustees the district’s single audit — a federal compliance review triggered by federal spending thresholds — remains pending because auditors are awaiting required government documentation. He said the audit team completed testing of major federal programs (Child Nutrition and Special Education) and found no issues in that testing.

The presentation summarized general‑fund revenues of about $40.6 million (approximately 79% from the state) and general‑fund expenditures just under $43.0 million. Graydon highlighted that roughly 77% of the general‑fund spending goes directly to instruction and described recent changes in restricted fund balances (including Title 6 impact aid and Reid Act funds). He noted a multi‑year enrollment decline (from about 2,727 to 2,568 students) and explained how enrollment drives state aid and per‑pupil revenue.

Following the presentation, trustees moved to approve the fiscal‑year 2024–25 financial statement audit. The motion passed by voice vote. Graydon told the board he would work with district staff to issue the single audit promptly once the federal documents are available.

The board is scheduled to receive additional finance briefings in coming months that will break down fund balances, restricted revenue categories and the district’s long‑term facilities schedule.