The North Hunterdon-Voorhees Regional High School District Board of Education received the district's FY2025 annual comprehensive financial report on Nov. 25 and approved it after an extended presentation and question period.

Auditor Andrew Kuzinski of the district's accounting firm reviewed the major figures in the report, saying the district closed the year with an overall fund balance of $24,756,000, a capital reserve of about $9.5 million and an excess surplus of roughly $5.25 million carried into the 2026 budget. Kuzinski called those balances ‘‘healthy for a district of this size’’ and said the reserves improve competitiveness for capital grants such as ROD grants because they show the district can fund its share of large projects.

The presentation also covered the food service fund (operating revenue about $1.985 million and net position about $712,000) and long‑term liabilities: paid bonds, leased obligations, finance purchases and a net pension liability reported under GAAP that Kuzinski described as a state obligation reflected on district financial statements.

Much of the board's discussion centered on a reconciliation issue the auditors identified during fieldwork. Kuzinski said audit procedures found ‘‘one‑sided transactions''that had been carried on bank reconciliations’’ and flagged the matter for attention; by the time the audit was finalized, the district had corrected the items and the auditor elevated the issue to a management suggestion rather than a formal recommendation. Kuzinski said the revised reconciling schedules include more detail on the district's sweep account to prevent recurrence.

Ernie Turner, a retired school business administrator who led a third‑party cleanup, told the board his team reviewed 12 months of activity to reconcile one‑sided entries and restore balance to the ledgers. "We did 12 months worth of work to review because it requires that to make sure that for the entire year, it had been accounted for appropriately," Turner said.

Board members asked whether the problem signaled a persistent internal control deficiency. Kuzinski said the reconciling issues indicated controls were not operating perfectly but, crucially, that the July and August reconciliations reviewed after corrective steps were clean; for that reason he treated the item as a management suggestion and not a recurring recommendation. He added that, were the condition to reappear, it would be elevated.

After questions and discussion, the board moved to accept the auditors' report and the auditors' management report as prepared by the district's appointed firm (as identified in the meeting materials). The motion passed on a roll‑call vote with a mix of yes, no and abstentions recorded by individual board members.

The board recorded next steps: continue stronger reconciliation practices, maintain the more detailed sweep‑account reconciliation, and monitor corrective actions through the business office and future audit follow‑up.

The board accepted the report at the Nov. 25 meeting; no additional action was scheduled at that time beyond ongoing monitoring.