Lakeville audit returns clean opinion; district posts $15.2 million improvement to fund balance

Independent auditors told the Lakeville Public School District board that the district's fiscal year 2024 financial statements are "unmodified" —'a clean opinion'— and that the audit uncovered a single internal-control finding in the food service fund. Auditor Nancy Scholtenberg said the finding was a year-end receivable related to state-paid meals that was adjusted during the audit, after which the financial statements were fairly stated.

The clean opinion is the headline from Bergen KTV's audit presentation to the board. "We are issuing an unmodified opinion, or a clean opinion," Scholtenberg said, adding that the firm follows government auditing standards and performs focused testing of federal programs when federal spending exceeds the $750,000 threshold.

Why it matters: a clean audit reduces external risk to the district's financial reputation, but the board also must monitor restricted and assigned balances and planned expenditures that will reduce the one-time surplus.

The financial details the auditors flagged included a larger-than-expected positive variance to budget: the district had forecast a modest increase in fund balance but outperformed that plan, producing about $15.2…