Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
York County schools receive clean FY25 financial audit; GASB 101 restatement raises accrued liabilities
Summary
Auditors from Brown, Edwards and Company issued an unmodified opinion on York County School Division's FY25 basic financial statements and state compliance reports. A new GASB 101 accounting standard increased beginning net position liabilities by about $17 million, a standards-driven restatement not a contribution shortfall.
Danielle Nicolaiacen, CPA of Brown, Edwards and Company, told the York County School Board on Dec. 15 that the auditor's opinion for FY25 was a clean, unmodified opinion on the basic financial statements. "In our opinion, the financial statements are presented fairly in all material respects," Nicolaiacen said during the work session.
The auditors described the scope of their work — a financial-statement audit, a state compliance audit and a federal program audit — and said testing covered receivables, payables, capital…
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
