An independent auditor told the Pascack Valley Regional High School District Board of Education on Dec. 15 that the district’s general fund closed FY2025 with a $13,334,000 fund balance and that auditors found no reportable findings.

The auditor said the fund balance declined from about $14.7 million the prior year. He broke the balance into the capital reserve (about $5.0 million), the capital projects fund (about $4.77 million), the maintenance reserve (about $980,000) and an emergency reserve (about $315,000). The auditor also said the unassigned fund balance stood at the state-allowed maximum of $1,577,000.

The auditor said the district generated roughly $2.6 million in excess surplus in 2024–25, which the district has used to support subsequent budgets. "You used withdrawals from capital, maintenance and emergency reserves to support ongoing projects and to offset increased health-care costs," the auditor said.

The presentation included long-term-liability figures: outstanding serial bonds of about $7.7 million, outstanding leases of about $574,000, financed purchases of about $670,000, compensated-absence liabilities of roughly $977,000, and a net pension liability of about $10.7 million. The auditor noted the district holds receivables for state ROD grants of approximately $750,000 that may fund capital work.

The auditor reported no findings or recommendations in this year’s audit and flagged two forthcoming accounting-standard changes that will require more detailed reporting in next year’s audit. The board did not record any formal vote on the audit in the transcript provided.

Board business continues with budget-development meetings between the superintendent and directors; the auditor said current excess-surplus calculations will be used as a starting point for the 2026–27 budget.