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Board accepts FY2024 audit; fund balance up $1.2M, capital reserves and tax-appeal exposures discussed
Summary
The board accepted the Springfield School District audited financial statements for year ended June 30, 2024. Auditor Mr. Hogan reported an unmodified opinion, an $1.2 million increase in the general fund to an $11.4 million ending balance, and noted commitments for capital and tax-appeal reserves.
The Springfield School District Board accepted the district—s audited financial statements for the fiscal year ended June 30, 2024, at its Nov. 20 meeting after a presentation by the district—s external auditor, Mr. Hogan.
Mr. Hogan summarized the audit highlights: an unmodified (clean) audit opinion on the financial statements, no adjustments required to the figures presented to auditors, and a $1.2 million increase in the general fund balance to an ending balance of approximately $11.4 million. He attributed the improvement largely to expenditures coming in lower than budget (notably salary and contracted special-education services) and modest…
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