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Auditor issues clean opinion; Sartell‑St. Stephen sees modest fund‑balance gain, small enrollment decline
Summary
Independent auditors delivered an unmodified (clean) opinion on fiscal 2025; revenues rose about $2.4 million (driven by emergency connectivity funds and levy increases), expenditures rose about 6.8%, and fund balance increased roughly $213,013 while resident student counts fell by about 83. Board approved the fiscal‑year audit by voice vote.
The independent audit presented at the Sartell‑St. Stephen School Board meeting concluded with an unmodified opinion for fiscal 2025, a term auditors described as a “clean opinion.” The auditor also reported a mid‑level internal control finding related to segregation of duties — a common item for districts of this size — and said mitigating controls exist.
Key figures presented to trustees included a revenue increase of roughly $2.4 million (about 4.5%), driven in part by emergency connectivity funds and a levy increase; expenditures rose approximately 6.8%, in part because of technology purchases and salary/benefit changes. The district reported a net increase in fund balance of about $213,013 and an unassigned fund balance percentage of about 12.7%, above the district’s 10% minimum policy. The auditor also noted a resident enrollment decline of approximately 83 students year‑over‑year.
The audit presentation covered general‑fund revenue composition (state sources near 80% of total, local property taxes and other local/federal sources making up the remainder), per‑student revenue increases of roughly $950 due to the enrollment decline, and special fund trends (food service and community service variances). The board voted to approve the fiscal‑year 2025 audit by voice vote following the presentation.
Board members asked clarifying questions about reserves and one‑time funding sources; administration and finance staff said they will continue monitoring trends and report back as needed. The auditor provided additional communication letters for board review that include required communications, financial analysis and legislative updates.
