Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Nyssa School District 26 audit: clean opinion, minor technical findings
Summary
An external auditor told the Nyssa School District 26 board the district received an unmodified (clean) FY25 audit opinion; net position rose about $3.5M, federal compliance testing found no issues for Title I and nutrition, and auditors disclosed two minor findings (auditor assistance in drafting statements and a payable recording issue).
The district's external auditor presented the fiscal year 2025 financial audit and reported an unmodified (clean) opinion on the district's financial statements.
The presenter (Speaker 2) told the board the audit included a governance letter and six adjusting journal entries, most routine: "We only had 6 of them and I think 3 or 4 of them at least we do every year just out of convenience for Crystal," the presenter said. The auditor said there were no disagreements with management to disclose.
Why it matters: a clean, unmodified opinion is the most favorable audit outcome and contrasts with a prior qualified opinion the district received in earlier years. The presenter highlighted year-over-year improvements: net position increased by about $3,500,000 (from $2,200,000 the prior year), and overall fund balances rose roughly $3,200,000, with the general fund increasing about $187,000.
The auditor explained a recent change in governmental accounting standards applied this year affecting compensated absences, saying the new GASB guidance increases the reported liability to better reflect actual year-end obligations. The board was directed to the management's discussion and analysis pages for concise year-to-year comparisons and a forecast for the coming fiscal year.
Federal compliance: the presenter said the district's federal single audit was required because the district expended about $2,700,000 in federal funds in the year. The auditor tested Title I and the nutrition program and reported no findings on those programs.
Minor findings: the presenter disclosed two routine items. First, auditors assisted in drafting the financial statements and must report that involvement as a management-service disclosure; the presenter said this is common for a district of this size and the firm recommended no change. Second, an accounts-payable recording issue from the prior year resulted in approximately $20,000 being booked in the current year; the presenter described this as a small technical adjustment that was identified and corrected during review.
Board members asked clarifying questions about the monthly reports and apparent low cash positions. The presenter explained the difference between government-wide statements (which present total assets and liabilities) and monthly general-fund reports, noting the figures must be combined across funds to view total cash position.
Next steps: the auditor thanked district finance staff (including Crystal) for their cooperation and said the audit packet will be placed on the Monday agenda for formal consideration by the board.
Sources: presentation to the Nyssa School District 26 board (Transcript SEG 007—SEG 336).
