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Auditor anticipates clean opinion for Spartanburg 1; GASB 101 changed compensated-absence reporting
Summary
External auditors told the board they expect an unmodified 2025 financial opinion, noted a delay pending the final federal compliance supplement, described GASB 101 effects on compensated absences and reported a general fund balance of about $24.9 million.
External auditors presented the district's 2025 audit draft and financial highlights and told trustees they anticipate a clean opinion once the federal compliance supplement is finalized.
"We will have a clean or an unmodified opinion over the district's 2025 financial statements," Brian Nicholson of Malone Jenkins said, but he cautioned that final issuance is pending the federal compliance supplement that had not…
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