Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditor issues clean opinion but warns New Hanover general fund balance is small
Summary
A draft FY2025 audit presented to the New Hanover County Schools board showed a clean opinion with no findings, but the auditor told the board the district’s unassigned general fund balance is low (about $1 million available) while other restricted funds hold roughly $23 million.
The district’s independent auditor gave the New Hanover County Schools a clean, unmodified opinion on its draft fiscal‑year 2025 financial statements while flagging a thin unassigned general fund balance and recommending caution on rigid set‑aside policies.
“Luckily, it has no findings,” auditor Adam Sikoric told the board as he opened his review of the draft audit, describing a “clean audit report” and explaining changes required under GASB 101.
Why it matters: A clean opinion means the financial statements fairly…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
