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Board accepts audit, district outlines reserves and controls
Summary
The board accepted the 2024–25 audit with an unmodified opinion; administrators reported $14.97 million in fund balances, detailed encumbrances and reserves, and said auditors recommended tighter controls for student activity accounts and changes to how charitable collections are handled.
The Hopewell Valley Regional School District board voted to accept the district’s annual financial audit for the 2024–25 year after administrators reported an unmodified opinion from the auditors.
According to the board’s presentation, the district’s audited fund balances total approximately $14,966,000. That figure includes $735,000 in encumbrances carried forward, $2.7 million already budgeted into the 2025–26 budget, a $100,000 maintenance reserve…
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