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Independent auditors report unmodified opinion for Kiski Area SD; review shows bond activity and no single-audit findings

Kiski Area School District Board of Directors · November 17, 2025
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Summary

Independent auditors told the Kiski Area School District board they expect to issue an unmodified opinion on the district’s 2024–25 financial statements, reviewed bond activity and reported no findings in the single audit of federal programs.

Independent auditors presented the school district’s 2024–25 audit at the Nov. 17 Kiski Area School District board meeting and indicated they expect to issue an unmodified (clean) opinion on the district’s financial statements.

Bob Bellicus, a principal with the auditing firm (introduced after a brief introduction by Mr. Liberto), explained the auditors’ responsibility under generally accepted auditing standards and government auditing standards and said, “we're able to issue or we'll be issuing an unmodified opinion,” the highest level of assurance that statements are materially accurate. He said the audit process included remote and on-site procedures and noted good cooperation from management and staff.

The presentation highlighted financial activity: two bond series during the year (a 2024 refunding issue of $22,300,000 and a 2025 new-money issue of $10,000,000) and total bonds payable of about $71,000,000. The auditor noted pension and net OPEB liabilities remain significant but showed a year‑over‑year decrease in the pension allocation of about $4,200,000. Fund-balance figures were reviewed: total fund balance approximately $23,700,000 and the general fund ending fund balance near $6,800,000, with an unassigned percentage below some recommended benchmarks.

On federal compliance, the auditors said the district required a single audit because federal expenditures exceeded the threshold; Title I and the special education cluster were audited as major programs and the auditors reported no findings, material weaknesses or significant deficiencies. Board members asked clarifying questions about auditor communications and outreach; auditors offered contact information and follow-up as needed.

No formal board action was taken on the audit during the meeting; auditors indicated remaining procedural items and awaiting the finalized federal compliance supplement before issuing the final report to the Department of Education.