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Independent audit finds no findings; district reports $25.4M ending general fund balance
Summary
Auditors presented the FY 2024–25 independent audit noting three opinion letters required under uniform guidance, a regulatory-basis presentation (not GAAP), and no internal-control findings; the board approved the audit.
The board accepted the independent audit for fiscal year 2024–25 after auditors summarized financial statements, fund balances and required opinions.
Auditor Jay said the district received three opinion letters required under uniform guidance because of federal fund thresholds and described the regulatory accounting presentation used under state requirements rather than GAAP. He reported $30,111,000 in combined cash, investments and outstanding warrants, an ending general fund balance of approximately $25,435,128 and combined-purpose bonds and lease amounts in the district's schedules. Jay said the audit included no findings for internal control and called it a "good clean audit." "There was no findings," he said, and the auditors reported no material weaknesses or significant deficiencies.
The board moved, seconded and unanimously approved the audit and related letters. Auditors also reviewed activity funds, building and municipal tax fund balances, and the composition of federal program testing required by uniform guidance.
