Auditor gives Bordentown Regional an unmodified opinion on 2025 finances; fund balance falls

Dave McNally, a partner with auditing firm HMA, told the Bordentown Regional School District board that auditors issued an unmodified opinion on the district's 2025 financial statements and a clean report on internal controls and major‑program compliance.

"We issued what's called an unmodified opinion for 2025, and that's the best opinion you can receive," McNally said, summarizing the independent audit and the single‑audit work the firm completed because the district spent more than the federal/state threshold for grants.

McNally said the audit team was on site in the fall and completed follow‑up work with the business office. He noted the district filed required audit reports well ahead of the January 15 deadline, finishing the audit by Dec. 1. The presentation walked board members through the statement of net position, budget‑to‑actual comparisons and an MD&A section in the report for additional context.

On fund balance, McNally reviewed several reserve categories that reduce available cash for discretionary use. He said the audit showed excess revenue of about $272,000 for the year and that some appropriations were not spent; the transcript lists detailed line items and sums (see clarifying details) and the auditor characterized the available unreserved fund balance as modest relative to total reserves. McNally described capital and maintenance reserves and noted the district's unreserved fund balance is the portion most available for operations going forward.

Board members thanked McNally and noted appreciation for the business office's work in preparing the report. McNally invited board members to contact him with any follow‑up questions after they review the full comprehensive annual financial report.

The board did not take substantive action on the audit during the presentation beyond accepting the report for discussion; the full audit report is available for review in the board packet.