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Auditor issues clean opinion for Caswell County Schools but flags shrinking fund balance and control weaknesses
Summary
An independent auditor issued a clean opinion on Caswell County Schools' 2024–25 financial statements while warning the district’s local fund balance fell sharply and two findings related to health-care drawdown procedures produced a budget violation.
Adam Seper, a partner at audit firm Anderson Smith, told the Caswell County Board of Education the firm issued "a clean unmodified opinion" on the district's June 30, 2025, financial statements, but he warned the district is using its fund balance and needs to address control weaknesses.
Seper said the district’s general fund held $554,000 at year-end, a decrease of $847,000 from the prior year, and that the district used about $1 million of fund balance across local funds. He pointed to a ledger-item labeled a $525,000 bank overdraft…
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