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Auditors give Keystone Central unmodified opinion despite $6.7M fund-balance drop
Summary
Baker Tilly presented Keystone Central School District’s 6/30/2025 single audit, delivering unmodified opinions on financial statements and federal compliance while reporting a $6.7 million general-fund decrease driven largely by cyber-charter tuition and a $3.8 million transfer to capital projects.
Baker Tilly delivered an unmodified opinion on Keystone Central School District’s financial statements and on compliance with major federal-award programs for the year ended June 30, 2025, while flagging a $6.7 million decline in the general fund for the year.
Adam Hartsell, senior manager with Baker Tilly, said the firm provided “reasonable assurance” after auditing the district’s fiscal year and noted the opinion is the highest level an audit firm can provide. He said the audit also produced an unmodified compliance opinion on federal programs, adding the district expended about $6.5 million in federal awards during the year.
The auditors identified two main drivers of the $6.7 million decrease. Expenditures exceeded budget by roughly $4.4 million, and the district moved about $3.8…
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