Platte County School District #1 accepts 2025 audit; auditors report clean opinion and one timing finding
Loading...
Summary
Auditors gave a clean opinion on the district's June 30, 2025 financial statements, noted a one-day $500,000 timing difference between funds, and highlighted increased cash and reduced pension liability; the board voted to accept the audit and approved a December staff bonus.
Platte County School District #1's board accepted the district's 2025 financial audit after auditors presented a clean opinion and discussed one internal-control deficiency tied to fund-transfer timing.
Jason, an auditor presenting the firm's work, said "in our opinion, the accompanying financial statements present fairly in all material respects the respective financial position of the districts," summarizing standard audit procedures including bank confirmations, inventory observation and capital asset testing. Auditors also reported one deficiency: a $500,000 transfer from the general fund to the capital projects fund was recorded on different dates by the two funds (general fund on 06/30/2025 when the check was issued; capital projects on 07/01/2025), producing a one-day imbalance at fiscal year end. Auditors characterized this as a timing/reporting issue management can improve.
Auditors highlighted district-level positives: cash increased from roughly $9.9 million to about $10.9 million, a pension liability decreased by about $1 million (from roughly $9.6M to $8.8M), and governmental fund revenues rose by about $1.0 million even as expenses increased to about $24.0 million. For food-service (proprietary) funds auditors noted a negative fund balance is common and often supported by the general fund or grants.
After the presentation, Speaker 4 moved to accept the 2025 audit from Carver, Clark, and James CPAs for the year ended 06/30/2025; the motion passed by voice vote. Later in the meeting the board discussed and approved a December holiday bonus for eligible employees; members asked whether substitute teachers who worked during the fall were eligible and were told substitutes who worked during the fall period would qualify. The bonus motion passed by voice vote.
The audit acceptance and bonus approval were procedural votes; the transcript records voice approvals but not individual roll-call tallies.
