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District auditors give unmodified opinion; administrators outline $4 million gap and rebuilding efforts
Summary
Auditors issued an unmodified opinion while identifying three compliance findings. Superintendent Jason Bing and business administrator Mr. Moody described a ground-up rebuild of the 2024–25 budget and a projected roughly $4 million shortfall for 2025–26 despite a $619,000 state aid increase.
Superintendent Jason Bing and the district's external auditors told the South Orange–Maplewood Board of Education on Feb. 27 that the district’s financial statements received an unmodified opinion even as auditors flagged three compliance findings.
Rob Provost, partner on the audit engagement, said the auditors issued the unmodified opinion after a review that included a single-audit of federal grants. "We issued an unmodified opinion," he said, and then listed three issues requiring corrective action: student-activities recordkeeping, a shortfall in a federal…
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