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Palmdale Aerospace Academy board accepts clean audit and approves second interim financial report
Summary
The board approved the academy's consolidated audit, which carried a clear opinion and no current findings, and adopted the second interim financial report reflecting Jan. 31 results and multi-year projections. Administrators said the district remains solvent but noted tightening covenant coverage in later years.
The Palmdale Aerospace Academy board on Tuesday approved the academy's consolidated audit and adopted the second interim financial report for fiscal year 2025-26, trustees heard.
Miss Zelser, the auditor who presented the consolidated audit, told trustees the financial statements "present fairly" and that auditors found no material weaknesses or current-year findings. "On page 33 you will see there were no audit findings," she said, adding that prior-year findings had been fully…
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