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Auditor gives Region 8 a clean opinion; board delays formal acceptance pending full packet
Summary
Auditor reported an unmodified opinion on the 2024–25 financial statements, noted a GASB change that increased compensated-absences liabilities by about $532,000, and recommended better general-ledger classification; the board agreed to wait to accept the audit until members have the full book and written communications.
An independent auditor told the Regional School District 8 Board of Education that the district received an unmodified (clean) opinion on its 2024–25 financial statements, but noted accounting-standard changes and minor adjustments the board should be aware of.
Catherine Patnach, the lead partner on the engagement, reviewed the audit highlights and required communications. She said the implementation of GASB Statement No. 101 (compensated absences) required recognizing additional sick- and vacation-related liabilities, which decreased the district’s net position by approximately…
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