Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditor: Delaware Valley SD posts clean 2024–25 audit, modest surplus and transfers to capital reserve
Summary
Auditor Paul Murphy presented an unmodified ("clean") opinion on Delaware Valley SD's 2024–25 financial statements, reporting an $809,008.98 revenue surplus, $1,183,755 in underspent expenditures, and board-approved transfers of $3,591,007.55 into capital reserve; the audit will be on the board agenda for acceptance Thursday.
Paul Murphy, a CPA and partner at Murphy Doherty and Company, told the Delaware Valley School District board during a work session that his firm's audit of the 2024–25 fiscal year yielded an unmodified opinion — commonly described as a "clean" audit — and found no reportable findings.
"The opinion letter is what's called an unmodified opinion ... also nicknamed a clean opinion," Murphy said, noting the district's required financial statements conform with generally accepted accounting principles (GAAP).
The auditor directed board members to the budget-to-actual schedule on page 60 of the report and highlighted a revenue positive variance of $809,008.98 (final budget $97,747,382; actual revenue $98,557,280). He also reported total expenditures of $96,563,006.27, a favorable variance of $1,183,755 compared with the final budget.
Murphy said the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
