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External auditor gives Franklin Regional SD an unmodified opinion; general fund balance falls after transfers
Summary
Independent auditor Mark Turnley presented the FY24–25 audit, reporting an unmodified (clean) opinion, a general fund balance of roughly $14.55 million with an unassigned portion of ~8.9%, and a shift to a deficit in the food service fund driven by lower subsidies and higher expenses.
At the March 23 meeting, independent auditor Mark Turnley presented Franklin Regional School District’s FY24–25 audit, telling the board the firm issued an unmodified — commonly called a "clean" — opinion on the district’s financial statements.
Turnley told the board overall general fund balance dropped to about $14,549,000. He attributed the decrease primarily to transfers into the capital reserve fund (the district transferred $3…
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