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External auditors give South Orangetown school district a clean opinion and outline fund-balance gains
Summary
External auditors told the South Orangetown board they issued an unmodified (clean) opinion and summarized that stronger-than-expected revenues, voter-approved capital work (Tappan Zee boiler), tax-cert refunds, interest income and expenditure savings produced a net budgetary surplus and an increase in fund balance.
External auditors from PKF O'Connor Davies presented the district's independent audit and reported an unmodified opinion on the financial statements. "We have issued an unmodified opinion," engagement partner Melissa Zott said during her presentation.
The auditors explained the drivers of the district's fund-balance movement. The board had planned to use about $2.9 million of fund balance in the original budget; by the final budget that figure increased…
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