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Independent auditor reports clean FY25 audit; finance director proposes using one-time fund balance to pay off COP debt
Summary
McMahon & Associates presented a draft FY25 audit with a clean opinion and no material journal entries; Director of Finance Stephanie Juno proposed using an added $1.2 million in fund balance to pay off a 2014 COP loan (about $1.38 million remaining) to free roughly $200,000 annually in cash flow.
McMahon & Associates presented the district's draft fiscal-year-2025 audit during the Dec. 8 board meeting and described standard audit phases — planning, fieldwork and reporting — and the firm's procedures for confirming bank balances, testing internal controls and reviewing capital assets and payroll processes. Paul Baucus, CPA, said the audit produced a clean opinion and that the finance team made the required supporting work papers available.
"We added $1,200,000 to the ending fund balance in the general fund at fiscal year end June 30, 2025," Director of Finance Stephanie Juno told the…
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