Independent auditors give Rockford an unmodified opinion; board approves FY25 audit
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Hunterford CPAs presented an unmodified (clean) financial and single audit for the fiscal year ended 06/30/2025, reporting no findings. Trustees approved the audit; the presentation noted a 16.1% governmental fund balance and construction-in-progress and capital additions figures.
Auditors reported a clean financial statement and single audit for Rockford Public Schools' fiscal year ended June 30, 2025, and trustees voted to approve the audit at the board meeting.
Mark Sawyers, audit shareholder with Hunterford CPAs, told the board the firm issued an unmodified opinion and identified no findings. "You have an unmodified opinion," Sawyers said, adding the district has a strong business office and cooperative audit process. He flagged some one‑time items that required work, including GASB implementation related to compensated absences and recalculating liabilities for sick leave.
Sawyers summarized key figures: as of the audit date the district had about $21,000,000 in construction in progress; during the year the district placed approximately $45,600,000 into service. He said the audited federal expenditures totaled about $5,300,000 for the year—down from pandemic-era levels tied to ESSER funds—and the district's governmental fund balance was about 16.1% of budgeted expenditures (state guidance is 10–20%).
Trustees asked clarifying questions about audit terminology and single‑audit timing; Sawyers explained the term "modified" has evolved in audit language and noted that the district's single audit filing (due to federal grants) was completed late in December but contained no findings. The board then moved to approve the audit; the motion passed by voice vote with all in favor.
The administration will file the required documents with the state as required by law.