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Audit shows clean opinion but $3.2M education-fund shortfall; staff recommends option to capture new property plus CPI in tentative levy
Summary
Baker Tilly reported an expected unmodified audit opinion for FY2025 while noting a $3.2 million education fund deficit and tighter revenue outlook; staff recommended the tentative 2025 tax-levy option that captures new property and a 2.9% CPI increase and will return levy documents for board vote Nov. 18.
Baker Tilly presented preliminary results of the Rockford Public Schools 2025 audit and told the Committee of the Whole the district should expect an unmodified (clean) opinion on its annual financial report, while management and auditors highlighted a modest operating deficit and a tighter revenue environment going forward.
"We intend to issue an...unmodified auditing," audit partner Mike Malat told the committee, summarizing the firm's expectation after completing most testing. Jamie Murray, executive director of finance, announced the audit was substantially complete and thanked district staff for supporting the process.
Malat and staff…
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