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Auditors report clean opinion but note restatement, building sale boosts fund balance
Summary
External auditors told the Kutztown Area School District board the 2024–25 financial statements carry an unmodified opinion but include a restatement tied to compensated‑absence accounting; a $1.58 million building sale and bond proceeds helped produce a year‑end surplus and an unassigned fund balance within policy limits.
Kutztown Area School District’s external auditors presented the district’s 2024–25 financial results and said they issued an unmodified (clean) opinion on the financial statements while a delayed federal compliance test will be reported separately in early 2026.
Nick Bieber, senior manager for the audit firm, told the school board that a change in how compensated absences were estimated produced a restatement: the general fund balance rose by about $87,000 and beginning net position on the government‑wide statements increased by roughly $226,000 because of revised management estimates. "The testing under the generally…
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