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Board accepts independent audit finding a clean opinion, but one board member objects
Summary
The board accepted the district's independent audit (unmodified opinion) noting GASB 101 adjustments; the motion passed 3-1 with one board member saying she had not had sufficient time to review the final audit before voting.
Auditors from LBMC presented the Fayette County Public Schools 2024-25 external audit during the Dec. 18 meeting and said the district's financial statements received an unmodified (clean) opinion despite adjustments required by the implementation of GASB 101 for compensated absences.
An LBMC auditor summarized the results: the audit's largest numerical change reflected adoption of the new GASB standard, but "our audit opinion is still a clean, or unmodified audit opinion," the auditor said on the record. The single audit covering federal grants also noted no noncompliance or questioned costs.
Board member Mundy explained she would vote no, saying the board received the final audit very recently and she had not had time to review changes before the meeting. "I just want to...explain my vote a bit that we just received the audit on our desk today, and I know that there has been changes, but I haven't had the opportunity to review that," Mundy said.
The board moved to accept the independent auditors' report; the motion carried 3-1.
District leaders said the audit and supporting materials would be available for additional review and that staff would continue following up on any recommended improvements to internal controls.
The acceptance of the audit does not change the district's operational status; district staff noted the audit process involves sampling and internal control testing and that no material misstatements were found.
