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Auditor gives Saint Joseph School District a clean opinion, flags delayed federal draws that cut operating reserves
Summary
KPM CPAs presented an unmodified (clean) audit for fiscal 2025 but warned that delayed ESEA/Title drawdowns — roughly $9.7 million across two years — reduced the district's operating reserve to about 10.2%. Auditors recommended procedural changes to claim federal reimbursements more frequently.
John Cummings of KPM CPAs told the Saint Joseph School District Board of Education on Tuesday that the district’s financial statements for the year ended June 30, 2025, received an unmodified opinion, the highest level of auditor assurance.
"In our opinion, the financial statements referred to above present fairly in all material respects," Cummings said, summarizing the independent auditor’s report and explaining the review was conducted in accordance with U.S. auditing standards. He noted the district reports on a modified-cash basis and that the audit focused on cash receipts,…
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