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Independent auditors issue clean opinion for Henderson County Schools; audit shows stable reserves
Summary
Auditors Gold Killian issued an unmodified (clean) opinion on Henderson County Schools' 2024–25 financial statements and reported no material weaknesses; the presentation included fund totals, revenue sources, and a snapshot of enterprise fund results.
Independent auditors Gold Killian CPA Group told the Henderson County school board March 9 that they issued an unmodified (clean) opinion for the district’s financial statements for the year ended June 30, 2025, and reported no material weaknesses or significant deficiencies in internal control.
Roger Warren, the audit presenter, summarized the district’s financial snapshot: total assets of about $169 million, total revenues of approximately $167.2 million and expenditures of about $164.8 million for governmental and capital-project funds. The auditors performed a federal single audit for major programs and reported an unmodified opinion on compliance for selected grants.
Warren noted the district audited several major federal and state grant programs, and explained the composition of revenues: roughly $97 million from the state public school fund, about $43 million from Henderson County, and $11–12 million in federal receipts; other revenues included investment earnings and insurance settlements. Instructional services accounted for roughly 75% of governmental expenditures (about $126.3 million).
The auditor and finance staff also reviewed enterprise funds: the school food service fund showed an unrestricted reserve (reported as $2.4 million at June 30, 2025) and the child care fund reported an unrestricted reserve of roughly $3 million. Enterprise fund results year-to-date showed a modest deficit (reported at about $16,000 through January), and child-care and nutrition programs were identified as areas for ongoing monitoring.
"We issued an unmodified clean opinion for the June 30, 2025 financial statements," Roger Warren told the board, emphasizing that auditors found no material noncompliance in audited federal and state programs.
Board members thanked audit and finance staff; the presentation concluded with staff offering to answer detailed questions about grant testing, fund balances and capital outlay trends.
