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Lexington 01 receives clean audit; fund balance ~30% of annual expenditures
Summary
External auditors issued an unmodified opinion on Lexington 01—s 6/30/2025 financial statements and reported no material weaknesses; the district reported a June 30 fund balance of approximately $114.64 million (about 30% of annual expenditures) and unassigned balance roughly 25%.
The Lexington County School District One board was presented with the district—s annual comprehensive financial report for the year ended June 30, 2025, and the audit team issued an unmodified (clean) opinion with no material weaknesses or significant deficiencies.
Brian Nevison of Malden Jenkins, the lead audit director, told trustees the audit was performed in accordance with generally accepted auditing standards and government auditing standards. He said the…
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