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Lower Moreland audit shows clean opinion as district reports reduced fund balance and no single-audit findings
Summary
Auditors from Malley LLP told the school board the district will receive a clean (unmodified) opinion on the 2024–25 financial statements and that the single-audit of federal programs (IDEA) had no findings; presenters noted a fall in cash and general fund balance tied to capital spending and accounting changes under GASB guidance.
Auditors presented a clean, unmodified opinion on the Lower Moreland Township School District’s 2024–25 financial statements and said the district’s single audit of federally funded programs (the IDEA major program) produced no findings.
"So for audit, we are issuing an opinion on the financial statement. And the opinion we're issuing is a clean or unmodified audit opinion," said Greg Shank, partner in charge of the audit for Malley LLP. He told the board the audit process produced no 115-type communications of deficiencies…
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