Ridgefield Park board receives unmodified audit; general fund rises about $3.1M

An external auditor told the Ridgefield Park Board of Education on Dec. 18 that the district’s 2024–25 financial statements earned unmodified opinions and showed a roughly $3.1 million increase in the general fund balance.

"We just completed your 20 24 25 audit," Alex Barice of Lurch, Vinci and Bliss told the board, describing the annual comprehensive financial report and the auditor’s management report. He said the ACFR contained three unmodified opinions, "which is the highest level that can be obtained," and that the audit identified no material weaknesses or significant deficiencies.

Barice summarized the district’s year‑end position: general fund balance increased from about $13,400,000 to approximately $16,600,000 at year end 06/30/2025. He told trustees that portions of the balance are restricted, including an excess surplus of about $1,400,000, a capital reserve of about $11,700,000, a maintenance reserve near $1,500,000, a tuition reserve of $500,000, and year‑end encumbrances of roughly $71,000. The unassigned fund balance was reported at about $1,400,000.

Barice said the audit produced six recommendations for 2024–25 (several repeats from prior years) and noted a corrective action plan was included on the evening’s agenda to address them. "There is a corrective action plan on the agenda tonight that will address all six of the 24–25 recommendations," he said.

Trustees asked clarifying questions in committee, and Trustee McNeil said she got her questions answered during the finance committee review. The board voted to accept the audit materials and the related corrective action plan as presented.

What happens next: the district will incorporate the excess surplus as a revenue source in the 2026–27 budget process and implement the corrective actions described by the business office and auditors.