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Auditors give Calvert County Public Schools a clean FY2025 opinion; OPEB net liability explained
Summary
External auditors told the Calvert County Board of Education they issued an unmodified opinion on the district's FY2025 financial statements, found no material weaknesses, noted a 19% increase in accounts receivable and explained a $56 million net OPEB liability; board members asked detailed accounting and funding questions.
The Calvert County Board of Education heard from the district's external auditors that they issued a clean, unmodified opinion on the fiscal year that ended June 30, 2025, and identified no material weaknesses in internal controls.
Chris Lehman, the engagement partner who led the audit, told the board the firm audited the district's financial statements and is completing a separate federal single audit required because the district receives more than $750,000 in federal funds. "We've issued a clean or unmodified opinion on the financial statements," Lehman said, noting the firm's risk-based approach and work testing design and operating effectiveness of internal controls.
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