Williamsburg County school district receives unmodified FY2025 audit; fund balance down $1.7 million

The Williamsburg County School District received an unmodified audit opinion for fiscal year 2025, auditors told the board at its Jan. 29 meeting. Mark Wood of Shaheen Hancock LLP told trustees the audit yielded the highest level of assurance and summarized key fund-level results.

Wood reported total general fund assets of $27.7 million and total liabilities and deferred inflows of roughly $7 million, leaving an unassigned fund balance of nearly $12 million as of June 30, 2025. Total revenues were $35.3 million while expenditures were about $40.66 million, producing a negative change in fund balance of $1.7 million for the year.

The auditor also reviewed the district’s proprietary (food service) fund, noting total assets and deferred outflows near $3.7 million, liabilities near $2.2 million and a negative unrestricted net position of roughly $774,000; food-service revenues and expenditures were nearly even in the reported year.

Chief Finance Officer Brett Street thanked the finance staff for the work required to complete the audit, noting that staff efforts made the auditors’ work smoother. Wood said there were no findings for the year and explained a submission timing issue: the report required a finalized compliance supplement before finalization, so a draft was uploaded to meet the Dec. 1 deadline and the completed report followed once the supplement was issued.

Board members asked questions about the total fund balance and how those funds may be used; the board thanked the finance team and auditors for their work. No board action was required on the audit itself.