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District auditors deliver clean FY25 opinion; unassigned fund balance fell and food-service fund is negative
Summary
Auditors presented a draft FY2025 audit with a clean (unmodified) opinion, noting a material weakness tied to retiree census data for OPEB, a decline in unassigned general fund balance from 10.12% to 6.65%, and a negative food-service fund balance; auditors said final statements will be presented Dec. 30.
CliftonLarsonAllen auditors and Saint Paul Public Schools financial staff presented a draft executive summary of the FY2025 audit to the board on Dec. 18, reporting a clean (unmodified) audit opinion and several items for follow-up.
Key points from the audit presentation:
- Opinion: Auditors indicated a clean opinion on the FY2025 financial statements, meaning no material modification was required. - Adjustments and controls: There was one corrected adjustment (accounts payable in the community service fund) and no disagreements with management. Auditors reported one carry-forward material weakness related to retiree census data supporting other post‑employment benefit liabilities (OPEB). - Fund balance and revenues: Total general-fund balance decreased; unassigned fund balance declined from 10.12% to 6.65% of expenditures (equivalent to roughly three weeks of operations). Expenditures increased roughly $6 million year-over-year, driven in part by special-education costs. Federal revenue decreased as COVID-related programs ended. - Food service and community funds: The food-service fund showed a negative fund balance in FY25; auditors recommended continued budgeting attention. The community-service fund experienced a revenue decrease but maintained positive fund balance. - Timeliness and single-audit timing: Auditors noted prior-year timing issues and federal compliance delays tied to the federal compliance supplement; some single-audit items will be issued later in the coming weeks. Auditors and staff indicated they expect to finalize statements and present the full report at the Dec. 30 meeting.
District finance leadership and board members acknowledged the work to get the audit on time and asked auditors to include peer-district dollar comparisons and clearer dollar‑amount graphics in the final report. The finance team said they would include comparables (with a one-year data lag) where feasible.
What’s next: Final audited financial statements and single-audit items to be presented Dec. 30; administration pledged follow-up on OPEB census data and food-service fund remedial plans.
