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Auditor: Mount Olive district shows strong reserves but warns of future cost pressures
Summary
External auditor Matthew Wilcox told the Mount Olive Township School District board that audit findings were limited and the district’s reserves are strong — roughly $7.3 million in capital reserve and a government fund balance reported as $70.3 million — but rising health-benefit and bargaining costs could pose future risks.
Matthew Wilcox of Wilcox & Company presented the Mount Olive Township School District’s 2024–25 audit and described the district’s financial position as generally strong. “We got about $7,300,000 in capital reserve,” Wilcox said, adding that the governmental fund balance was “$70,300,000.” He said the audit identified two compliance findings and a small…
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