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External auditor gives clean opinion but warns UCPS is operating on a razor-thin margin
Summary
UCPS received a clean, unmodified draft FY2025 audit opinion; the auditor said net position overstates available cash and the district has only about $16 million available against a roughly $450 million operating budget.
The board received a draft FY2025 financial statement and a clean, unmodified audit opinion from external auditor Adam Shaperick, who warned trustees that the district is operating on a narrow financial margin.
Shaperick told the board the statements "accurately reflect the net position and the fund balance for the school system as of 06/30/2025 and for the year then ended," but he cautioned that net position (about $143 million) includes the value of long-lived assets and is not the…
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