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Independent auditor gives Jefferson Elementary a clean opinion; board accepts audit with one reclassification noted
Summary
An independent auditor told the Jefferson Elementary School District board it issued a clean opinion on the 2024-25 financial statements but reported one controlled deficiency involving an OPEB fund reclassification; trustees accepted the audited financial reports unanimously.
Nathan Edelman, an independent external auditor from Eide Bailey, told the Jefferson Elementary School District Board of Trustees that the district's audited financial statements for the year ended June 30, 2025, received a clean opinion.
"You have a clean opinion on the financial statements, which is what you want," Edelman said, adding that the audit covers balance sheets, income statements and compliance with accounting rules and grant requirements.
Edelman described a single controlled deficiency: an accounting presentation adjustment that required moving a reported OPEB savings balance into the general fund presentation. He characterized the issue as a reclassification for reporting purposes rather than a cash or compliance error and said the change has been corrected.
"This one's probably not that (serious)," Edelman said of the control deficiency, adding that it was "specific and not something that would be expected to occur again." He also said there were no compliance findings related to state and federal programs or the Measure J bond program.
Board members asked whether the reclassification represented a recurring weakness. Edelman said it was a one-time presentation difference between the state's reporting format and the Governmental Accounting Standards Board (GASB) financial statements and that the district had already made the necessary adjustment.
Trustees praised district staff for the work behind the audit and for securing a clean opinion. Following questions, a motion to accept and approve the audited annual financial reports for fiscal year 2024-25 was made and seconded; the motion passed unanimously.
The board's acceptance of the audit concludes the auditor's public presentation of results and moves the district into regular reporting and any follow-up work identified in the auditor's recommendations.
