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District auditor issues clean opinion; general fund drops $1.2 million
Summary
External auditors presented an unmodified (clean) opinion on Unionville‑Chadds Ford School District’s fiscal 2023 statements, highlighting higher-than‑budget revenues tied to investment earnings and increased instructional expenditures driven largely by special‑education and medical costs.
Unionville‑Chadds Ford School District’s independent auditor told the board on Feb. 12 that the district’s fiscal 2023 financial statements received an unmodified, or clean, opinion.
Mike Mood, the district’s auditor, said field work concluded last September and that the draft report shows roughly $2.4 million more revenue than budgeted for the year — about $1.8 million of that from local sources, with investment earnings a primary contributor. On the expenditure side, Mood reported the district spent roughly $3.4 million more than budgeted, about $2.8 million of which was instructional spending driven in part by special‑education and increased medical costs.
"This indicates our opinion, which was unmodified or a clean opinion," Mood said, describing required supplemental information and the single‑audit requirements tied to federal awards exceeding $750,000.
The auditor said the district’s general fund balance decreased by about $1.2 million, leaving approximately $7.6 million available at June 30, 2023, and an unassigned fund balance near $4.7 million (about 4.65% of the FY24 budget), which the auditor said falls within Pennsylvania Department of Education guidelines.
Board members were invited to submit follow‑up questions to the finance team and auditor; administration expects to issue the final audit and file the single‑audit documentation ahead of disclosure deadlines tied to bond reporting.
The report included no findings of internal control deficiencies or compliance issues under the single‑audit testing, Mood said. The board will receive the final audit and accompanying management discussion and analysis in the coming weeks.
