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Auditors issue clean opinion but flag $30M‑plus fund‑balance shortfall for Winston‑Salem/Forsyth schools
Summary
Forvis Mazars reported an unmodified opinion on the district's FY 2024‑25 financial statements while identifying compliance and internal‑control findings, including a general‑fund deficit on a modified‑accrual basis of roughly $24M (about $29–30M for general fund) and a $59M net deficit on a full‑accrual basis driven largely by pension/OPEB liabilities.
The district’s external auditor delivered an unmodified (clean) opinion on the Winston‑Salem/Forsyth County Schools financial statements for the year ending June 30, 2025, while also reporting multiple compliance findings and a substantial fund‑balance shortfall.
Tyler Beatty of Forvis Mazars told the board on April 21 that the audit opinion provides "reasonable assurance" that the information in the financial statements is materially accurate but does not evaluate whether the results are financially healthy. "We did issue an unmodified opinion," Beatty said.
At the same time, Beatty outlined several reported problems. Using the district’s modified‑accrual (fund) basis, he said the general fund showed a deficit in the low‑to‑mid‑$20‑million range and referenced an overall…
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