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Racine Unified gets clean 2024–25 audit; report to be accepted at next business meeting
Summary
Auditors reported a clean financial audit for fiscal 2024–25 with no findings on financial statements or federal/state awards; district fund balance at 19.5% meets board policy. The board will accept the audit at its next business meeting.
Auditors and district finance staff told the Racine Unified School Board on Jan. 12 that the district received a clean audit for fiscal year 2024–25.
Bridal Schafer of CliftonLarsonAllen and district staff highlighted that no findings were identified in the financial statements or in the single‑audit review of federal and state awards. District Deputy Chief of Finance Julie Schottener and the auditor thanked the finance team for timely preparation and cooperation during onsite work. The auditor noted a small paperwork change this year: the state and federal schedule of awards were issued separately because of a federal compliance supplement delay.
Board members heard key figures: the district's unassigned general fund balance stood at 19.5%, inside the district policy target range of 15%–20% and above the 18% threshold Moody's sets for concern. The finance monitoring presentation also confirmed adherence to Department of Public Instruction (DPI) and Government Finance Officers Association (GFOA) budget development standards and noted the district received the Distinguished Budget Presentation award.
No formal adoption vote was held at the work session. Board members and staff said the audit will be placed on the consent/acceptance portion of the agenda for the next business meeting for formal acceptance.
What's next: The board will accept the 2024–25 audit at its next business meeting, and staff will continue regular reporting on budget and forecast indicators.
