Rowan County school board accepts clean 2025 audit, approves annual financial report
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Summary
The Rowan County Board of Education accepted a clean (unmodified) audit for the year ended June 30, 2025, heard that the district held about $3.5 million in general fund cash and a roughly $4.0 million fund balance, and approved the audited annual financial report to submit to the state.
The Rowan County Board of Education voted Dec. 16 to accept the district's 2025 audit and to approve its audited annual financial report.
Anthony Workman, engagement director for the audit firm Kelly Galloway, told the board the independent auditors issued an unmodified (clean) opinion on the district's financial statements for the year ended June 30, 2025. Workman said the district had about $3.5 million in general fund cash and a total fund balance of roughly $4.0 million and that property tax and other revenues increased about $475,000 year over year.
Workman said auditors found no material weaknesses or reportable findings in federal program testing; the report did note eight minor management-letter comments, largely related to activity fund procedures such as timely deposit of gate receipts. He described the issues as common across districts and said the audit team had no unresolved disagreements with management.
Board members asked questions and then voted to accept the audit report by voice vote. The board also approved the audited annual financial report so staff can submit the audited AFR to the state.
Board Chair (speaker 6) and Treasurer Miss Littleton noted the district's cash position should improve next month after a recently deposited check an auditor identified as roughly $5 million. The board did not take any additional formal actions tied to the management-letter comments at the meeting; trustees said they would review auditors' recommendations and staff follow-ups.