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Committee hears FY25 audit with unqualified opinion, discusses large OPEB liability
Summary
Auditor reported no findings and issued an unqualified opinion on the FY25 financial audit. Committee discussion centered on the district's OPEB/OPED actuarial liability (discussed as roughly $40–48 million) and options to increase annual contributions to an OPEB asset account.
The Northborough‑Southboro Regional School Committee received the FY25 audit report at its March 18 meeting after the audit subcommittee met with the district’s auditor and evaluator earlier in the month.
Becky summarized the subcommittee meeting and said auditor Tom Scandlin presented an audit with no findings and an unqualified opinion. Committee members said Scandlin praised the district’s financial records and…
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