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Faribault board accepts unmodified audit, hears questions about controls and fund balance
Summary
The Faribault Public Schools board received a clean (unmodified) audit for FY24–25 and approved the audit report 6–1; auditors noted no current findings on tested federal programs and highlighted common internal-control overlaps and a healthy unassigned fund balance above district policy.
The Faribault Public Schools board on Nov. 24 accepted an independent auditor's unmodified opinion on the district's financial statements for the year ending June 30, 2025, voting 6'to'1 to approve the audit report.
Caroline Stutzman, the audit partner, told the board the auditors obtained "reasonable assurance that the financial statements are free of material misstatement" and issued the highest…
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