District auditor issues clean opinion; Clark Township reports $8.47 million fund balance

At a public meeting of the Clark Township Board of Education, the district’s external auditor, Andrew Preny of Lurch Vincy and Bliss, said the auditors issued an unmodified opinion on the financial statements for the year ended June 30, 2024, meaning the statements are "fairly stated and free of material misstatement." Preny told the board the unmodified opinion is the outcome the district seeks each year.

The auditor reported a June 30, 2024 fund balance of approximately $8,466,000 and explained how the balance is classified. Preny said roughly $2.8 million is held as excess surplus (the minimum level the district will use in preparing the 2025–26 budget), about $2.2 million was designated as a revenue source for the 2024–25 budget, a capital reserve was $949,000, and the district also set aside a maintenance reserve and year‑end encumbrances (about $774,000). He also identified roughly $1.2 million in unassigned fund balance.

Preny told the board there was one internal-control recommendation concerning the before- and after-school program. The audit team was unable to locate the Valley Road School enrollment registration forms binder for review and therefore performed alternative procedures to obtain audit comfort on transactions; Preny recommended improved record-keeping for program registration documentation.

A board member thanked the auditor and district finance staff for the clean opinion and effective internal controls. The board accepted the audit presentation and expressed appreciation to staff for the work that produced the report. No further formal action was recorded on the audit at the meeting.