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New auditors give Springfield Township SD a clean opinion; single-audit compliance report delayed
Summary
Barba King Thornton reported an unmodified opinion for the 2024-25 fiscal year with no significant deficiencies; auditors flagged a delay in the OMB compliance supplement that prevents issuance of the final single-audit compliance report, and the finance committee will recommend approving the audit in draft form at the Dec. 2 board meeting.
Alex Frank, audit manager at Barba King Thornton, told the Springfield Township School District finance committee on Nov. 19 that the firm’s first-year audit will carry an unmodified (clean) opinion for fiscal 2024–25 and that no significant deficiencies or material weaknesses in internal controls were identified. "As of now, I don't see it changing in any way, but have an unmodified or clean audit opinion on all reports in the audit," Frank said.
Frank reviewed key fiscal-year numbers: the general fund decreased by about $650,000 from the prior year, capital projects rose about $1.1 million largely because of new bond proceeds, and revenues exceeded budget by roughly $860,000. He also described accounting impacts that do not represent immediate cash outflows, including an approximately $82…
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