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District auditor reports $18.15M ending fund balance; federal single audit delays formal acceptance
Summary
Auditor Andrew Kachinsky presented highlights of the FY2025 audit: ending fund balance about $18.15 million, capital and maintenance reserves, $4.533M excess surplus, and a pending federal single audit that delays formal acceptance of the audit report.
Andrew Kachinsky, the district auditor, presented the fiscal year 2025 audit highlights at the Oct. 27 board meeting and told trustees that a pending federal single audit prevents formal acceptance of the audit that night.
Kachinsky said the district closed the year with an overall fund balance of about $18.15 million, a decrease of approximately $4 million from the prior year. Components include a capital reserve of roughly $3.2 million and a maintenance reserve of about $1.126 million. He reported an excess surplus of $4,533,000 that has been consistent year‑to‑year and an…
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