Auditor gives Stillwater Area Public Schools a clean opinion for FY2025; single‑audit testing pending

Independent auditors reported a clean fiscal year 2025 audit for Stillwater Area Public Schools and the board voted unanimously to accept the audit findings.

Erin Nielsen, audit partner, told the board the firm issued an "unmodified opinion" on the district's basic financial statements for the year ended June 30, 2025, and that auditors found no material weaknesses or instances of noncompliance under government auditing standards. Nielsen said the firm included emphasis paragraphs related to the new GASB standard on compensated absences as well as long‑term facilities maintenance and certain unearned revenue items.

The auditor explained that single‑audit testing could not be completed with the annual audit because the federal single‑audit compliance supplement was issued late; that testing will be completed and a supplemental single‑audit report will be issued separately before the March 31, 2026 deadline. "We will complete our testing of the single audit and issue that separately," Nielsen said.

Nielsen summarized key figures: adjusted average daily membership (ADM) was 8,223; general fund revenues were about $153.8 million and general fund expenditures about $155.9 million. She said governmental fund equity declined by roughly $32 million this year, primarily because of ongoing construction spending, while capital assets increased by about $15.5 million at the entity‑wide level. Nielsen also identified the district's internal service health fund as being in a deficit position this year and recommended continued monitoring to determine whether it is a one‑time fluctuation or a longer‑term trend.

After the presentation the board moved to accept the audit; the motion carried without opposition. Finance staff were instructed to complete the single‑audit testing and return with the supplemental report by the federally required deadline.