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Audit issues clean opinion but flags tight liquidity as enrollment drops
Summary
Auditor Acuity issued an unmodified (clean) opinion on Greater Albany Public SD 8J’s 2024–25 financial statements but warned the district’s short-term liquidity is below recommended levels; finance staff say a preliminary $8.4 million deficit projection will be refined as state revenue details arrive.
An independent auditor told the Greater Albany Public School District 8J board Wednesday that the district’s financial statements earned an unmodified, or "clean," opinion for the 2024–25 year but that near-term liquidity is a concern.
"We're offering an unmodified opinion on the district's financials, also known as a clean opinion," Glenn Kearns of Acuity said in the board presentation, a finding the board and finance staff welcomed as a positive audit outcome. The auditor said routine state and federal compliance testing produced no findings that required formal reporting.
Why it matters: despite the clean opinion, Kearns said the district's current ratio — a…
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