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Ambridge Area School District accepts auditor's report showing stronger-than-budgeted revenues, outlines follow-ups
Summary
Auditors told the board the district ended 2024'025 with revenues exceeding expenditures by about $2.78 million, an unassigned general-fund balance of roughly $4.77 million (about 8% of budgeted expenditures) and no material control weaknesses in the child nutrition program; the board accepted the final auditor's report and asked staff for follow-up details on charter payments and leased equipment.
Peter Vincheri, the auditor who presented a condensed summary of the district's 2024'025 financial audit, told the Ambridge Area School District Board that the firm's opinion letter concludes the financial statements are "fairly presented in all material respects" under generally accepted accounting principles. Vincheri said auditors performed the single-audit procedures required for entities that expend federal funds and found no material weaknesses related to the child nutrition cluster the team tested.
The presentation highlighted key figures: an assigned fund balance of about $10,010,000 and an unassigned fund balance of roughly $4,766,000, which…
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