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Auditor: District posts modest surplus and reports no material federal compliance findings

McKeesport Area School District Board · March 5, 2026

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Summary

The district’s auditor reported that audited financial statements are fairly presented under GAAP, the general fund ended with an unassigned balance near $7.2 million (about 8% of expenditures), revenues exceeded expenditures for the year, and the single-audit review found no material instances of noncompliance for tested federal programs.

The auditor presented a two-page summary of the district’s audited financial statements and single-audit results, telling the board the financial statements are "fairly presented" in accordance with generally accepted accounting principles. The auditor said total general fund revenues were roughly $91.18 million against expenditures of about $77.0 million, producing a year-end increase in fund balance. The auditor noted transfers of about $13.0 million (including roughly $3.0 million to capital projects and about $10.0 million to debt service).

The auditor reported an unassigned general-fund balance of about $7.2 million, which they said is roughly 8% of budgeted expenditures and within the Government Finance Officers Association’s recommended 8–10% range. The auditor also cited $102.735 million in outstanding bonds and identified other long-term liabilities discussed in the statements.

On federal programs the auditor said the district’s federal expenditures were approximately $8.94 million for the year, including about $2.2 million in COVID-related funds, and that the firm tested major programs (Title I, the child nutrition cluster and the 21st Century program) with a tested coverage of just over $5.0 million. "We did not note any material instances of noncompliance, and we had no significant deficiencies in internal control over those programs that we tested," the auditor said.

Board members asked clarifying questions; the auditor offered to provide further detail if requested. The board accepted the presentation and moved on to the next agenda item. The audit presentation and single-audit results will be part of the district’s official audit record for the year.