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Auditors give Buffalo schools a clean opinion; district reports $48.6M surplus and $424M fund balance
Summary
External auditors issued an unmodified (clean) opinion on Buffalo City School District's 2023–24 financial statements; the district reported a $48.6 million surplus and an ending general fund balance of $424 million while projecting an $83.5 million deficit for 2024–25 and outlining a four‑year plan to manage it.
Lumsden & McCormick presented an unmodified audit opinion on the Buffalo City School District's June 30, 2024 financial statements at the board meeting on Oct. 9, saying auditors found no matters under government auditing standards and classified the district as a "low risk auditee."
"We're rendering an unmodified opinion on your financial statements, which is a clean opinion, meaning we believe them to be fairly stated in accordance with generally accepted accounting principles," auditor…
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