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Independent auditor gives Montgomery Township schools a clean opinion but flags food-service fund balance
Summary
The district received an unmodified (clean) opinion on FY2025 financial statements; the Auditor’s Management Report recommended corrective action because the food service account’s net cash resources exceed a three-month average and must be addressed within Department of Agriculture rules.
The Montgomery Township School District’s independent auditor presented the FY2025 financial audit Jan. 27 and issued an unmodified opinion on the district’s financial statements, indicating the statements are free from material misstatement and can be relied upon, auditor Eric Zimmerman told the board.
Zimmerman also presented the Auditor’s Management Report (AMR) required by the New Jersey Department of Education. The AMR includes recommendation 2025-01: the district should ensure that net cash resources in the food service account do not exceed three months’ average expenditures. Zimmerman said much of the excess reflects…
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