Independent audit gives Mineola schools a clean opinion; district posts $2.7M fund balance gain

An external audit of the Mineola Union Free School District's fiscal year ended June 30, 2024, resulted in clean (unmodified) opinions across the audited financial statements and related reports, the district's auditor told the board.

Chris Ndada of Nawrocki Smith presented the audit findings and thanked district staff for timely records and cooperation. The firm issued clean/unmodified opinions on the financial statements, the single audit of federal award programs, and the cash-basis report on extra-class activity funds. The general fund recorded an increase in fund balance of about $2,700,000 for the year.

"A clean bill of health with respect to the internal controls," Ndada said, noting no material weaknesses or significant deficiencies were identified. He highlighted approximately $70.8 million invested in capital assets (net of depreciation) with roughly $4.2 million in capital expenditures during the year, and a reduction in long-term debt of about $2.0 million. He also reported an increase in the other post‑employment benefits (OPEB) liability of roughly $6.3 million to a total of about $171.8 million and noted there is no statutory mechanism in New York State to prefund that liability.

Ndada said the audited financial statements were presented to the audit committee and filed with New York State by the required Oct. 15 deadline. Board members had no substantive questions following the presentation and expressed appreciation for the work of the business office.

The audit included a management letter process, and no recommendations rose to the level of material weaknesses; the auditor indicated routine observations and ongoing monitoring will continue as part of annual oversight.