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District auditors give Blackstone-Millville a clean FY24 opinion
Summary
External auditors informed the school committee the FY24 financial statements received an unmodified (clean) opinion; auditors reviewed fiduciary funds, fund-level statements and OPEB/pension liability presentation and reported no audit adjustments.
Auditors Bob Brown and Sean Dorsy told the school committee on April 10 that the FY24 audit concluded with an unmodified (clean) opinion.
The auditors walked through the financial statement structure — fiduciary funds, fund-level balance sheets and the full-accrual presentation — and explained that inclusion of pension and OPEB liabilities drives negative net position figures in governmental accounting, though bond ratings are not affected since the obligations were previously known. The auditors reported no material audit adjustments and noted the district has begun contributions to an OPEB trust; recent activity showed a $100,000 contribution with modest net investment income during the reporting period.
Committee members asked clarifying questions about the OPEB trust and liability changes; auditors explained the net change was small and driven by deferred inflows/outflows and limited investment income.
