Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Buffalo City School District audit: clean opinion but $36.9M audited deficit and structural budget gap
Summary
External auditors issued an unmodified (clean) opinion on Buffalo City School District’s 2024–25 financial statements, but the district closed the year with a $36.9 million audited deficit, transfers to capital projects and a projected $78.8 million shortfall for the current year that the superintendent is working to cut.
The Buffalo City School District received an unmodified ("clean") audit opinion for the fiscal year ended June 30, 2025, auditors told the Finance & Operations Committee on Oct. 3. Lumsden & McCormick partner Sarah Dayton said the firm found the district’s financial statements to be "proper and in accordance with generally accepted accounting principles," and reported no findings under government auditing standards or questioned costs in federal‑grant testing.
That favorable audit came with finance headlines. CFO James Bonds said the district originally budgeted an $83.0 million deficit; the quarter‑three projection included in the four‑year plan was $49.4 million, and the final audited deficit was $36.9 million. Bonds noted total revenues rose roughly $20.0 million year‑over‑year while total expenditures and transfers increased by about $106.0 million. The district’s general‑fund unassigned balance declined as a result.
Why it matters…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
