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CNUSD auditors issue unmodified opinions; board questions large pension/OPEB liabilities and accounting changes
Summary
External auditors gave Corona‑Norco Unified an unmodified opinion on both the 2025 district financial statements and the Measure GG bond audit, noting one reportable finding with no fiscal impact; trustees pressed auditors and staff about large pension and OPEB liabilities and a recent GASB accounting change.
Alexa Koch, the senior manager who led the district’s external audit for Ike Bailey, told the board the 2025 financial‑statement opinion for the Corona‑Norco Unified School District was unmodified — the highest level of assurance an auditor issues — and that the Measure GG bond audit also received an unmodified opinion.
"The opinion on the financial statements was unmodified," Koch said, and added that there was "one reportable finding" in the audit that carried no fiscal impact for the district. In federal and state compliance testing, Koch said, auditors found no reportable findings. The Measure GG performance audit…
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