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Auditors give Ferndale Schools a clean opinion; auditors highlight $11.7M fund balance and no federal findings
Summary
Plante Moran reported an unmodified (clean) opinion on the district's 2024 financial statements, identified no material weaknesses or single-audit findings (Child Nutrition cluster), and showed a June 30 fund balance of about $11.7 million (roughly 24% of expenditures).
Auditors from Plante Moran told the Ferndale School Board on Nov. 18 that the district's 2024 financial statements earned an unmodified (clean) opinion and that the single-audit review of federal programs produced no reportable findings.
"We did provide an unmodified or clean opinion," auditor Kimber Smil said, noting Plante Moran found no material weaknesses or material instances of noncompliance under the new SAS 145 standard that requires deeper control testing.
Plante Moran's presentation showed a roughly $3 million increase in general fund revenue year over year, largely driven by state aid and categorical funding, and a corresponding $3.1 million increase in expenditures. Auditors said the largest components of spending remained instruction and instructional support, while the object-level breakdown showed salaries and benefits as the primary expense categories.
The auditors presented a June 30, 2024 ending general fund balance of approximately $11.7 million and noted that the unassigned portion was about $9.2 million. They calculated the fund balance as roughly 24% of expenditures, above the MSBO guidance range of 15%'20% and above the 2023 statewide average reported in the presentation.
Plante Moran also reviewed nonrecurring COVID-era grant spending and said most one-time federal funds had been expended. The firm selected the Child Nutrition cluster as the major federal program for the single-audit review and reported no federal findings.
The auditors highlighted receivables that include state aid expected in July and August; the presentation cited an amount described on-screen (presenters referenced "about $65 million") that board members asked to verify in the prior-year statements. Board members thanked the business office for preparing audit materials and auditors invited follow-up questions.
The audit presentation concluded with multi-year enrollment charts and recognition of district staff who assisted with the audit work.
