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Committee accepts three FY2025 financial reports after auditors report no findings
Summary
Auditors told the committee they found no financial-statement, state-compliance or federal-compliance findings for three entities; the committee voted unanimously to accept the IGU, school district and borough FY2025 reports.
The committee reviewed FY2025 audit work and voted unanimously to accept three financial reports after the auditors reported no reportable findings.
Brian Kublick, audit principal with Alden Rogers, told the committee the firm completed financial-statement audits and federal compliance work for Interior Gas Utilities (IGU), the Fairbanks North Star Borough School District and the Fairbanks North Star Borough. "We didn't have any audit findings for any of the three entities," Kublick said, adding that there were no findings related to federal compliance, state compliance or the financial statements.
A committee member asked whether auditors had observed any internal-control deficiencies or judgment areas that fell short of formal findings. Kublick said there were none that rose to a level the board should be monitoring and that any issues warranting board attention would be communicated in the letter the auditors issue to the governing board.
The committee then took three separate votes. Ben Schilling moved to accept the Interior Gas Utilities financial statements for FY2025; the motion passed 5–0. The committee next voted 5–0 to accept the Fairbanks North Star Borough School District comprehensive annual financial report for FY2025. Finally, the committee accepted the Fairbanks North Star Borough comprehensive annual financial report for FY2025 by a 5–0 vote. Members offered public thanks to the auditors and borough and district staff for their work producing clean audits.
The committee's approval completes the formal acceptance of the FY2025 reports; the clerk and staff will proceed with any routine filings and the issuance steps required by the borough's administrative process.
