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Ridgefield board accepts 2023–24 audit, approves corrective plan and $800,000 tuition-reserve withdrawal
Summary
The Ridgefield Board of Education accepted the district's 2023–24 audit and Annual Comprehensive Financial Report, approved a corrective action plan and authorized an $800,000 withdrawal from the tuition reserve for the 2025–26 budget. The board also approved payroll, budget transfers and several district contracts.
The Ridgefield Board of Education on Feb. 13 accepted the district's Annual Audit Report and Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2024 and approved a corrective action plan prepared by the business administrator.
The acceptance followed a presentation by district auditor Jeffrey Bliss of Lerch, Vinci & Bliss, LLP. The board also approved a $800,000 withdrawal from the district tuition reserve to be applied in the 2025—6 fiscal-year operating budget.
Board members voted by roll call to approve a package of consent items that included January payroll of $2,679,513.93, January budget transfers totaling $47,571.80, and the January/February bill lists. Business Administrator Kelvin Hiciano certified compliance with N.J.A.C.6:23-2.11 regarding budget accounts and advised that, to his knowledge, no major account was over-expended as of Jan. 31, 2025.
The board also approved several contracts and service agreements: an educational-services agreement with LearnWell to provide remote instruction for a resident student (not to exceed 10 hours per week at $60.75/hour plus an administrative fee) and a contract between Ridgefield Memorial High School and The Tides Estate for the 2026 senior prom on June 4, 2026.
Why this matters: Acceptance of the ACFR and an approved corrective action plan close the formal audit loop for 2023—24 and set the district's financial footing heading into next year's budget process. The tuition-reserve withdrawal signals planned use of one-time or reserved funds to support the coming operating budget.
What's next: The board authorized the corrective actions recommended in the audit; the withdrawal will be reflected in the 2025—6 budget process. The board did not vote on the 2025—6 budget itself during the Feb. 13 meeting.
