Auditor presents 2024 report: modified opinion and $3.2M unassigned fund balance

The committee heard the district's 2024 audit briefing on April 21. The auditor indicated they were issuing a modified opinion for the year and summarized key financial results and recommendations.

"For 2024, the general fund for the school district had unassigned fund balance at year end of 3,200,000.0, which represents 5.6% of your operating budget," the auditor said. The presentation noted the district's fund balance grew by roughly $119,000 in 2024 and that revenues exceeded budget projections by about $328,000, while expenditures were about $209,000 over appropriations largely because of special‑education professional services.

The auditor recommended improving the timeliness of bank reconciliations and continuing annual cybersecurity training and vulnerability testing; the district reported it had purchased cybersecurity insurance after meeting trust requirements. The presentation also reported on retirement plan funding levels for state plans (general employees, teachers, survivor benefits) and an OPEB (other post‑employment benefits) liability that decreased due to actuarial changes.

Committee members asked clarifying questions about bank reconciliations and cybersecurity recommendations. The auditor said the payroll sweep account structure was the main contributor to reconciliation delays and that annual vulnerability testing and training remain recommended.

The committee did not vote on the audit; the presentation concluded with an offer by the auditor to answer follow‑up questions and ongoing availability to committee members.