Audit finds Duplin County Schools’ finances stable; child nutrition fund posts $266,150 cash gain

Adam Shapurick of Anderson Smith and White presented the district’s draft 2024–25 independent fiscal audit at the Duplin County Schools board’s Nov. 6 business session, saying the statements "accurately reflect the net position and the fund balance of Duplin County Schools as of 06/30/2025 and for the year that ended." He described the packet as a draft because federal compliance supplements are pending and the Local Government Commission (LGC) has not yet accepted final filings.

The auditor reported a general fund balance of about $6,396,000 as of June 30, 2025 — effectively breaking even year over year with an increase of roughly $10,000 — and noted the district spent budgeted amounts from its special revenue funds, including approximately $1.1 million from the other special revenue fund that had been planned. Shapurick also highlighted the child nutrition program’s cash position: after correcting an earlier figure, he said, "you are making money at in child nutrition again. Profitable adding 266,000," and later clarified the net increase as $266,150 in cash and cash equivalents.

Miss George introduced the auditor and provided administrative context to the board before the presentation. The audit report, Shapurick said, includes a new GASB component related to recording certain leave liabilities (including sick leave) on government‑wide statements but "it doesn't affect fund balance." He told the board the draft statements are not expected to change materially once federal supplements and LGC timing are resolved.

Shapurick walked the board through exhibits showing revenue sources: about $81.3 million from the state public school fund, roughly $16 million in federal grant receipts (of which about $7.3 million were education stabilization funds from COVID), and roughly $10.5 million provided by the county. He noted the final portions of COVID education stabilization funding expired Dec. 31, 2024, and that federal grant levels will return closer to pre‑pandemic figures in the next year.

On internal controls and compliance, the auditor reported no deficiencies for financial reporting and no findings on state or federal compliance tests for audited programs, including child nutrition and CTE. "We looked at your child nutrition funds and those education stabilization funds... and again, no findings," he told the board.

Board members thanked finance staff for maintaining stability. Chairman Davis explained elements of the fund‑balance change and reminded the board that recent county contributions and budgeted withdrawals affect available amounts; he said roughly $1.8 million is budgeted for use this fiscal year and emphasized that maintaining fund balance provides flexibility to avoid more severe reductions.

Next steps: the board received the draft audit and the auditor said he would issue a final report once the federal compliance supplements and LGC submission timing are resolved and the report date can be set.