Independent FY25 audit returns clean opinion; district fund balance remains strong
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Independent auditors issued an unmodified (clean) FY25 opinion for City Schools of Decatur and reported the general‑fund balance at about 22–23% of expenditures, above state guidance but within GFOA recommendations; auditors reported one management suggestion tied to fund‑balance level.
The independent audit firm Mauldin & Jenkins presented the City Schools of Decatur FY25 audit results on Jan. 13 and issued an unmodified (clean) opinion on the district’s financial statements.
Christopher McKellar, partner at Mauldin & Jenkins, said the auditor found the district’s statements presented fairly “in all material respects” and reported no disagreements with management or unrecorded adjustments. He noted the general fund balance as a percentage of expenditures is about 22–23%, which exceeds the state’s 15% threshold but falls inside the Government Finance Officers Association (GFOA) recommended range (17–25%).
CFO Dr. Lonita Broom told the board that one management recommendation arose related to the fund‑balance level and that the district’s FY25 year‑end fund balance exceeded the 15% state guideline by about $5.1 million, including an unexpected DeKalb County revenue distribution of roughly $3+ million in FY25.
McKellar summarized the district’s entity‑wide financial position: total assets and deferred outflows near $267.5 million against liabilities and deferred inflows near $221 million, leaving a net position of about $46.5 million. The change in net position was a reduction of approximately $2.2 million for the year.
The audit included no material findings, and the auditors reported full cooperation from staff during fieldwork. The firm also completed a SPLOST performance audit with no recommendations.
What’s next: The audit report is available on the district finance website and assembly. Dr. Broom will present a five‑year fund‑balance review at a future meeting to contextualize reserves and projected budgets.
Ending: The clean FY25 audit was cited by board members and staff as evidence of improved financial controls and transparency.