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Lakeville district receives unmodified FY24 audit; fund balance rises to $16.3 million
Summary
Auditors issued an unmodified opinion on the district's fiscal 2024 statements; general fund revenues rose 13% and total fund balance increased to $16.3 million, while unassigned/unrestricted balance remained slightly below the district's 5% policy target.
The Lakeville Area Schools Board of Education heard its fiscal 2024 audit and voted to accept the report after auditors issued an unmodified opinion — the highest level of assurance. Caroline Stutzman, the engagement partner from Bergen KTV, summarized revenue and fund‑balance changes and said auditors found no Minnesota legal compliance findings or single‑audit findings for federal programs…
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