District accepts FY2025 audit; auditor issues unmodified opinion but flags IT risk and fund-balance pressures
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Summary
The Board accepted the FY2025 financial audit prepared by Lauterbach & Amman LLP, which issued an unmodified (clean) opinion; the auditors highlighted emerging IT risks and recommended monitoring fund balances, noting transportation reimbursement proration is declining and stressing budget planning.
The DuPage High School District 88 Board of Education accepted its fiscal year 2025 financial audit at the Jan. 12 meeting after a presentation by representatives from Lauterbach & Amman.
The auditors delivered an "unmodified opinion," the highest standard, indicating that the district's financial statements were free from material misstatement. The audit presentation reviewed the independent auditor's report, management's discussion and analysis, basic financial statements, and required supplementary information including the budget-to-actual reporting.
In the management letter, auditors called attention to emerging information-technology monitoring and awareness as an area for the district to plan for and strengthen internal controls. The auditors characterized that recommendation as forward-looking rather than a result of a specific error discovered during the audit. Prior recommendations (capital asset policy and certain fund balance matters) were noted as addressed or in progress.
Board members questioned drivers behind fund-balance variances and noncompliance with the district's 30% fund balance guideline. Auditors and staff explained that timing and unreimbursed categorical costs (notably special education and transportation) contribute to fluctuations, and that state reimbursements for some special-education categoricals have been declining.
After discussion, a board member moved to accept the audit as presented; the motion was seconded and approved by roll call.
