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Auditor gives Athens Area SD a clean opinion, warns fund balance may fall if losses continue
Summary
District auditors issued an unmodified opinion on the 2024–25 financial statements and single audit, but staff and the auditor warned that budgeted reductions and projected losses could shrink reserves from the $7.1 million audit balance to about $4 million within two years if current trends continue.
Tony Galardi, the district auditor from Classic and Associates, told the Athens Area School District board the 2024–25 financial statements received an unmodified (clean) opinion, including the federally required single audit of grant expenditures.
"At the end of the day, we're verifying your numbers," Galardi said, describing sampling and testing of revenues, expenses, cash balances and receivables. He pointed to the district's fund balance of roughly $7.1 million as of June 30, 2025, and said the audit shows how much of that balance is already assigned for pensions, healthcare and capital projects.
District business staff clarified that the audited $7.1 million figure is a snapshot for the fiscal year-end and not the same as current cash on hand. The board heard that the 2025–26 budget reduced the available fund balance by approximately $2 million and that the current budget contains an additional budgeted loss of nearly $3 million. "If those become actual results," Galardi said in response to a board question, the reserve could fall to about $4 million within two years.
Galardi also described the district's proprietary funds — operations that charge fees, such as the cafeteria — and noted the proprietary fund showed about a $160,000 increase in net position over the prior year.
When asked about audit findings, Galardi said the audit produced no material weaknesses or significant deficiencies for the year under audit; routine management-letter items may still be communicated to the board.
The board moved to accept the audit and voted to approve the financial items brought to the table, after which administrators said the district will post the audit report and related financial reports on the business office page of the district website.
Votes at a glance: the board approved the 2024–25 financial audit and the financial items presented that evening with recorded yes votes from board members present.
