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Independent auditors give Niskayuna school district an unmodified opinion; fund balance at 4%
Summary
Auditors presented an unmodified opinion on the 2024–25 financial statements, reported no material weaknesses, and noted the district ended the year with a $21.2 million fund balance (about $4.6 million unassigned); the board accepted the audit unanimously.
The Bonadio Group presented the Niskayuna Central School District’s independent audit for fiscal year 2024–25 at the Oct. 14 board meeting and issued an unmodified opinion on the financial statements.
Kylene Fitzik, the audit principal on the engagement, told the board auditors found no material weaknesses or significant deficiencies in internal controls over financial reporting and no reportable noncompliance that would materially affect the financial statements. Fitzik said the district complies with New York State limits on unassigned fund balance and reported a general fund year‑end fund balance of approximately $21,200,000; of that, roughly $12,700,000 was designated for reserves and about $4,600,000 remained unassigned, meeting the State's 4% guideline.
Fitzik also said the firm could not yet issue the single audit because the federal government had not released the 2025 compliance supplement required to complete single‑audit testing; the single audit deadline is March 31 and the delay affects all districts under the same federal administrative backlog.
Board members thanked the audit team and district finance staff, and the board voted to accept and file the audited financial statements. The motion to accept the audit was approved unanimously by those present.
