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Carlynton SD audit: independent auditor issues unqualified opinion; capital projects fund shows $216,000 deficit
Summary
At the March 17 board meeting an independent auditor reported an unqualified (clean) opinion on the 2024–25 financial statements, noting a general-fund balance of about $9.1 million and a capital projects fund deficit of roughly $216,000 after a $305,000 transfer in the year.
Steve Burgerer, the independent auditor presented the Carlynton School District’s fiscal year ended June 30, 2025 audit to the board on March 17 and said the firm gave an unqualified — or "clean" — audit opinion on the district’s financial statements.
“That unqualified opinion means there was no qualifications on our opinion,” Burgerer said, summarizing the firm’s assessment.
Burgerer walked the board through key figures: the district’s governmental general fund held about $19.9 million in assets and roughly $10 million in liabilities and deferred inflows, resulting in an approximate general-fund balance of $9.1 million at year end. General-fund revenues were about $38.1 million against expenditures of roughly $38.0 million, and the auditor said the district’s general fund used about $259,000 of fund balance during 2024–25; a $305,000 transfer from the general fund to the capital projects fund occurred during the year.
By contrast, the capital projects fund had just over $1 million in assets and about $1.2 million in liabilities, yielding an ending negative fund balance of roughly $216,000. Burgerer noted the district completed a bond issue tied to the Carnegie Elementary project that affects the current-year financial picture and is disclosed in the audit footnotes.
The audit also included a single-audit review of federal expenditures. Burgerer said the district exceeded the federal threshold that triggers a single audit for the year and that testing found no weaknesses in internal controls over federal funds.
Board members praised the district accounting staff for managing multiple federal funding streams during a complex year and directed members and administrators to contact the district accounting office (Keith) with follow-up questions about specific line items or reports.
What happens next: The board accepted the presentation and approved the routine finance items on the agenda later in the meeting. Board members said they would review the full audit document electronically and bring specific questions back to staff if needed.
