Board accepts clean 2023–24 financial audit; district reports $350M in assets and healthy reserve

The Springfield R‑XII Board of Education unanimously accepted the district—s 2023–24 financial audit on Dec. 17 after a presentation by Brian Ackoff of Westbrook and Company.

Ackoff told trustees the independent auditors issued an unmodified (clean) opinion and identified no deficiencies in internal control or the district—s federal programs testing. Key figures presented included roughly $350 million in total assets across funds; a general fund balance of approximately $109,000,000; debt-service balance of about $27,000,000; capital-projects cash and proceeds listed around $214,000,000 with $182,000,000 of unspent bond proceeds; and an unassigned general‑fund balance near $94,800,000. The audit showed $434,000,000 in revenues and $443,000,000 in expenditures, for a net decrease in fund balance of about $8,600,000. The district—s reserve ratio was reported at 30%, which the auditor said is consistent with a financially stable district.

Ackoff also summarized multi‑year trends: debt decreased from about $493,000,000 to $475,000,000; federal dollars had increased; state dollars remained relatively flat; and salaries and benefits accounted for approximately 78% of expenditures. He noted the district—s required single (uniform guidance) audit found no federal findings.

During the vote, Mohammed Khani moved to accept the audit and Mikoski seconded; the motion passed 7–0.

Next steps: acceptance concludes the audit process; the district will use the findings to guide financial oversight and implementation of capital projects and continue routine reporting to the board.