Auditors issue clean opinion on Chesapeake Public Schools' FY2024–25 statements

External auditors reported an unmodified (clean) opinion on Chesapeake Public Schools' financial statements for the fiscal year ended June 30, 2025, at the board meeting on Dec. 16.

Laura Harden, engagement director for the external audit, told the board the audit opinion was issued Dec. 2, 2025, and that auditors identified no reportable noncompliance or material weaknesses in internal control over financial reporting. Harden said the audit noted implementation of GASB Statement No. 101 resulted in a restatement of beginning compensated-absence balances by $1,300,000 but that auditors found no inappropriate accounting policies or misstatements.

The district's finance director earlier summarized preliminary fiscal-year-to-date numbers through October: total realized revenue about $214,000,000 (approximately $112,000,000 from the state, $100,000,000 from the city, remainder from local and federal sources), projected expenditures $162,000,000, and projected total including future obligations $322,000,000. Fall enrollment was 39,497, 403 fewer than planned, which the finance director estimated could reduce state revenue by about $3,200,000 if the decline holds.

A second auditor, Britney Gregerson of Forbus Mazars LLP, presented the school activity funds audit for 2024–25 and also reported an unmodified opinion with no material weaknesses identified.