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Edison board hears clean audit, approves finance packet after debate over legal invoice
Summary
Auditors gave the Edison Township School District an unmodified opinion for FY2024 and detailed about $72.6 million in fund balance, while the board approved the finance/bills list amid public concerns about a small legal invoice tied to a trustee and a separate Hatfield Schwartz line item.
Auditors from HFA told the Edison Township Board of Education that the district received an unmodified opinion on its financial statements for the year ended June 30, 2024, and reported a total fund balance of about $72.6 million.
"We have an unmodified opinion on the financial statements," Jerry Conedy, partner at HFA accounts and advisors, said during the board's audit presentation, noting timely filing with the state. James Nemeth, the audit supervisor on the engagement, said the district's capital reserve stood at about $33.5 million at year end and that excess surplus totaled roughly $16.9 million, of which about $8.6 million was already designated for prior-year expenditures.
The audit team identified one repeat finding: the food-service fund's net cash resources exceeded Department of Agriculture statutory calculations, a problem they described as common among districts that received COVID-era funding. "It's coming up with a plan to make sure to spend those monies down," Nemeth said.
Superintendent Aldarelli and several trustees praised the business office and finance staff for correcting prior discrepancies and producing a largely clean audit. Board members stressed that excess surplus is constrained by state rules and can generally be used only for food or kitchen-related expenditures unless otherwise authorized.
The finance resolution that included the bills list and a revised bills list (an addendum to the packet) moved forward and was approved by the board at the meeting. The vote followed public comments that questioned transparency around an attorney invoice and a separate entry for Hatfield Schwartz LLC.
Public speaker Brian Rivera and others said they were alarmed that attorney payments linked to board members appeared on a bills list that had not been posted in advance for public review. "It's being snuck in on to a bill list," Rivera said, calling for more transparency. Administrators responded that the bills list is presented and voted on at the meeting and that invoices are routine payments; the board clerk and business administrator said the bills list is the packet the board votes to approve.
Vice President Vishal Patel abstained on the bill-list vote; at least one trustee voted no on the full packet while several members said they approved the packet with exceptions for specific line items (including Hatfield Schwartz LLC). The board recorded dissent and abstentions on particular line items while approving the overall finance resolution.
The board asked administration to provide follow-up documentation for questioned invoices and to consider whether additional public posting of the bills list is appropriate.
The district and auditors also discussed FY2026 budget planning and capital projects; the audit presentation was framed as background for the upcoming budget season.
What happens next: The administration will bring additional documentation on the contested invoices to the board and the finance committee for review; capital projects and the FY2026 budget will proceed through committee and future board action.
