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District audit returns clean opinion but shows $4.3 million gap as enrollment falls
Summary
The district’s independent auditor reported an unmodified opinion on financial statements but noted a year‑over‑year fund balance decline of roughly $4.3 million amid lower enrollment; auditors and staff flagged the upcoming federal single‑audit completion and accounting standard changes affecting compensated absences.
The district’s independent auditors reported an unmodified (clean) opinion on the Lapeer Community School District’s basic financial statements at Tuesday’s board meeting, but they also outlined fiscal pressures tied to lower enrollment and higher personnel costs.
Donna Hanson and Madeline Coy of the district’s auditor (transcribed as Van Moran, PLLC) told the board that the federal compliance supplement, recently…
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