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SRVUSD board accepts clean audit; auditors flag $227,000 accrual issue
Summary
The San Ramon Valley Unified School District board unanimously accepted an independent audit for fiscal year 2024–25 that included unmodified opinions on financial statements and compliance, and one finding that roughly $227,000 in building‑fund expenditures were not accrued to the prior year.
The San Ramon Valley Unified School District board unanimously accepted the district—s independent financial audit for the 2024–25 fiscal year after hearing a presentation from auditors Crowe LLP.
Crowe senior manager Charles Ribley told trustees the firm issued "unmodified opinions" on the district—s financial statements and on state and federal compliance reviews. "We gave, unmodified opinions over all 3 of those areas," Ribley said, calling that "a clean opinion."
The audit included one reportable finding. "There were expenditures that were paid after fiscal year end in the building fund that should have been accrued back at the end of the fiscal year," Ribley said, estimating the total at "about $227,000." He described the item as significant enough to include in the report but not large enough to require an audit adjustment or to be labeled a material weakness.
District staff described steps to address the issue after trustees asked for more detail. Executive director Evan Miller said the items were received prior to June 30 and were posted in the new fiscal year; staff will record an adjustment to the prior-year ending fund balance and tighten controls. Assistant Superintendent of Business Services Danny Hillman said staff have implemented additional reviews and training and will require management review for certain accrual decisions going forward.
The board moved to accept the audit, with a trustee making the motion and a second; the vote was recorded as unanimous.
Why it matters: An unmodified opinion is the highest-level assurance auditors provide and indicates the financial statements fairly present the district—s financial position. The single finding prompted staff to describe internal-control improvements and an accounting adjustment to ensure accurate year-end reporting.
Next steps: Staff said auditors will revisit internal controls in the next audit cycle to verify the changes have been implemented. The board did not request additional external follow-up beyond the standard audit cycle.
