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BOUSD audit: independent auditor gives district a clean opinion on 2024–25 financials
Summary
CliftonLarsonAllen reported an unmodified (clean) opinion on BOUSD’s 2024–25 financial statements and compliance; the single‑audit for child nutrition was also unmodified. Auditors noted one state finding (miscoding of transportation expense) and a significant estimate related to the district’s OPEB liability.
CliftonLarsonAllen (CLA) presented the district’s 2024–25 audit and gave an unmodified (clean) opinion on the financial statements and the audited compliance areas the firm reviewed.
Taylor Aldridge, CPA (CLA signing director) told trustees the audit used a risk‑based approach and that CLA found no audit adjustments to the financial statements. The firm issued an unmodified opinion on the financial statements, an unmodified opinion on the single‑audit program tested (child nutrition) and an unmodified compliance opinion on the state programs reviewed. Auditors reported one current‑year state finding related to miscoding of a home‑to‑school transportation expense; CLA characterized it as a coding error, not an improper expenditure.
The auditors also highlighted one significant estimate area — the district’s OPEB (other post‑employment benefits) liability — which is inherently judgmental because of assumptions about retirement trends and discount rates. A new standard also required recognition of certain compensated absence amounts this year.
Board action: Trustees voted to accept the 2024–25 audit report (motion carried 4‑0) and applauded district fiscal staff for their work preparing materials for a comprehensive audit process that spanned many programs and sites.
What’s next: Staff will implement minor corrective coding actions for the transportation finding and continue to monitor the OPEB estimate disclosures; the audit report and governance letter will be filed as required with county and state offices.
