Board Receives Clean Single Audit for FY 2024–25, $48.5M Committed to Capital Reserves
Summary
Auditors told the Bethlehem Area School District board the FY 2024–25 single audit contained no material weaknesses or federal-program findings; the general fund had an $11.7M surplus and a fund balance just over $84M, with $48.5M committed for capital reserve transfers.
The Bethlehem Area School District received a clean single audit for the fiscal year ended June 30, 2025, auditors told the combined committees on Monday.
Hank Miller, a partner presenting the report, said the audit found "no findings" for the financial statements and no findings in the federal compliance portion of the single audit. "There were no findings noted during the audit as far as the financial audit," Miller told the board. The auditors distributed a bound single-audit report, a management letter to governance and financial highlights.
Miller highlighted that the general fund finished the year with an $11.7 million surplus and a fund balance just over $84 million. Of that balance, $48.5 million is committed to be transferred to the capital reserve fund for future capital improvements. He also described the supplemental schedules included in the report, including pension schedules and the schedule of expenditures of federal awards.
Board members praised district administrators and the auditors for maintaining "good clean books," and thanked the CFO and superintendent for their roles in producing the statements. No formal action was taken; the audit materials were presented for committee review and will be part of consent materials for the upcoming voting meeting.
Next steps: the single-audit packet and management letter will be included in the Jan. 26 voting-meeting materials for formal acceptance as part of the routine consent agenda.
