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Rushford-Peterson audit shows unmodified opinion; report notes year-end fund positions and transfer
Summary
Independent auditors Smith Schafer issued a clean (unmodified) opinion on the district’s June 30, 2025 financial statements and the audit materials in the packet document a $93,313 transfer from the General Fund to the Community Service Fund and year-end fund balances.
Smith Schafer presented audit materials to the board showing an unmodified ("clean") opinion on the district’s June 30, 2025 financial statements and no compliance exceptions. The audit packet states the firm provided reasonable assurance that the financials are free from material misstatement.
Slides in the packet showed multi‑year revenue and expenditure trends, fund balance details and specific year‑end figures. The packet lists the UFARS unassigned General Fund balance at June 30, 2025 at $916,329 (9.8% of current General Fund expenditures) and reports the Food Service Fund ended the year with a balance of $396,597.
The audit narrative explicitly notes the Community Service Fund ended the year with a deficit balance of $37,819 "after a transfer of $93,313 from the General Fund." That transfer is called out in the audit slides and in the summary narrative in the board packet; the transfer is presented as part of the year‑end financial activity documented in the audit.
The packet also indicates there were no findings for Minnesota legal compliance and no single-audit findings. The board packet included the audit committee letter and related presentation slides from Smith Schafer. The materials in the packet present the audit results and fund details; the transcript does not include a recorded motion or vote on the audit within the provided segments.
