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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 $532,000. Patnach also listed capital additions of about $1.5 million (track replacement, athletic-field repairs, carpeting, HVAC work, window security film, Chromebooks and security cameras) and explained that long-term debt decreased by $356,000 after a net effect of debt payments and a new $220,000 note payable for IT equipment.
Patnach said state and federal single-audit thresholds changed this year so the district’s grant activity fell below the limits that would require a single audit. She reported one prior-period adjustment of $61,000 related to accounts payable timing and said there were no material corrected misstatements.
The audit team recommended improved general-ledger record keeping — separating interfund and intergovernmental transactions, performing periodic reconciliations of interfund balances, and refining year-end accounts-payable and retainage procedures. Patnach also discussed upcoming GASB standards that will affect future reporting and disclosure presentation.
Board members asked whether they had received physical copies of the audit and associated letters; administration said the book was posted online and hard copies/hard-copy letters would be provided with the packet. Several members said they preferred to review the full book before moving to a formal acceptance vote. The board did not vote to accept the audit at the meeting and agreed to add audit acceptance and related actions to the next agenda after members receive all materials.
What happens next: Administration will distribute the audit letters and book; the board will put audit acceptance on a future meeting agenda for action.
Source: Audit presentation by Catherine Patnach and subsequent board discussion at the Region 8 Board meeting on Feb. 1, 2026.
