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Independent auditors give Covina-Valley Unified clean opinion on 2024–25 finances and Measure CC spending
Summary
An independent audit firm reported unmodified opinions on Covina-Valley Unified’s 2024–25 financial statements and on the Measure CC bond performance audit, noting no findings or questioned costs and sampling 70% of Measure CC expenditures.
Viviana Alonso, a senior associate from independent audit firm CWDL, told the Covina-Valley Unified School District Board on Jan. 8 that auditors issued unmodified opinions for the district’s 2024–25 financial statements and for federal and state award compliance.
Alonso summarized the audit deliverables: the independent auditors’ opinion on the district’s financial statements; an internal-controls assessment for financial reporting and compliance; an opinion on federal program compliance; and a state-programs compliance opinion required by the Education Audit Appeal Panel (EAAP). She said the firm found no areas of noncompliance or deficiencies that resulted in findings or questioned costs for fiscal year 2024–25.
On the Measure CC bond performance audit, Alonso said the auditors reviewed transactions from 07/01/2024 through 06/30/2025. Measure CC had approximately $7,600,000 in expenditures and $500,000 in revenue for the year; CWDL tested samples totaling about $5,300,000, representing roughly 70.38% of total expenditures, and determined funds were expended on appropriate bond projects and in compliance with Proposition 39 requirements. Alonso told the board the auditors "expressed an unmodified opinion" on both the district financial statements and the Measure CC financials.
Board members had no questions following the presentation; later in the meeting the board formally approved the 2024–25 annual financial report and the Measure CC audits on a unanimous roll call vote.
The audit presentation and the board’s approval close the 2024–25 audit cycle for the district; the superintendent and finance staff were thanked for their cooperation by the audit team.
