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Southfield trustees approve going to market for up to $100 million in bond proceeds after auditors deliver unmodified FY25 opinion
Summary
Trustees unanimously authorized marketing previously approved bond series (not to exceed $100 million) and heard Plante Moran deliver an unmodified opinion on the district’s FY25 financial statements; auditors flagged enrollment-driven revenue declines and noted the single-audit remained in draft as federal guidance was finalized late.
Trustees of the Southfield School Board on the board’s final regular December meeting voted unanimously to authorize taking previously approved bond series to market “not to exceed $100,000,000,” a move Superintendent Jennifer Green said is intended to keep capital projects on schedule.
The vote followed a presentation by auditors from Plante Moran. Michael Foster, partner in charge of the district audit, told the board, “we're issuing an unmodified opinion on the financial statements,” the highest level of assurance an auditor issues. Foster also said the single-audit for federal awards…
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