San Marcos Unified board accepts 2024–25 audit; auditors issue clean opinion with one finding
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Summary
An independent audit of San Marcos Unified for 2024–25 received unmodified opinions on financial statements and compliance; auditors required adjustments related to 'cash with fiscal agent' and accrued liabilities tied to a solar/energy escrow. The board approved the audit unanimously.
San Marcos — The San Marcos Unified School District governing board unanimously accepted the district’s 2024–25 annual audit on Jan. 15 after auditors from Christy White presented their findings.
The audit firm issued unmodified (clean) opinions on the district’s financial statements and on state and federal compliance. "An unmodified opinion is the best opinion you can receive from an external audit firm," the audit partner said.
Auditors reported one finding that required audit adjustments: transactions related to a multi-year solar and energy-conservation project were held in an escrow (cash with fiscal agent) and had not been fully reflected in the district’s year‑end entries, affecting both the 'cash with fiscal agent' and accrued‑liabilities accounts. Auditors said management has already planned corrective entries and the project is approaching winding down.
After the presentation, Member Amad moved and Member Martin seconded acceptance of the audit; the motion passed unanimously.
What happens next: the audit will be filed with the San Diego County Office of Education and the State Controller as required by law.
