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Auditor reports clean opinion, district shows higher cash and new bond issuance
Summary
Auditors told the Twin Valley School District board they expect to issue a clean (unmodified) opinion for fiscal 2025; cash balances rose to about $40.4M, bonds payable increased following a 2024 bond issuance, and the district’s net deficit improved by roughly $5M despite large pension and OPEB liabilities.
Auditors told the Twin Valley School District board that they expect to issue clean, unmodified opinions on the district’s governmental and major fund financial statements for fiscal 2025, and that the district’s single-audit work (required because federal spending exceeded $750,000) delayed completion until federal guidance was issued.
Tim Sawyer, the audit partner, said the…
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