Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Wayne County Public Schools audit returns clean opinion but shows shrinking fund balance
Summary
Auditors gave Wayne County Public Schools a clean (unmodified) opinion on fiscal 2025 financial statements but noted a $3.2 million drop in general fund balance and cautioned that continued use of reserves at current rates could deplete available fund balance in a few years.
Auditors presented the district's fiscal year 2025 financial audit in draft form at the Dec. 1 Lincoln Board of Education meeting and said the draft can be finalized immediately because federal compliance supplements were only released in late November. Adam Skopurick, introduced by the audit firm, told the board "none of the numbers will change" in the final report and that the supplements only affected the dating of the statements.
The auditors issued a clean, unmodified opinion on the financial statements for the year ended June 30, 2025. They highlighted a change in accounting principle related to GASB guidance to recognize sick-leave liability, which appears as an explanatory paragraph and does not affect cash available for…
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
