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Board accepts FY25 audit showing unmodified (clean) opinion
Summary
Auditors from Samuel Klein & Company told the Mountain Lakes Board of Education that the FY25 audit produced an unmodified (clean) opinion with no material weaknesses; the board voted to accept the audit and received an auditors’ management report for follow‑up.
The Mountain Lakes Board of Education on Tuesday accepted the district’s FY25 audit after auditors said they issued an unmodified opinion and found no significant deficiencies or material weaknesses.
Michael Maguire of Samuel Klein & Company summarized the audit, telling the board: “We did issue an unmodified opinion, which is the best type of opinion. It’s a clean opinion.” He said the district ran in the black for the year, funded reserves and showed surplus available for capital needs.
The auditors delivered a management report and highlighted the audit’s areas of emphasis—cash and revenues, capital assets, liabilities, expenses and closing procedures—while saying the district cooperated fully with the audit team. The auditors offered to assist with implementation if the board or administration wanted additional help.
Board members asked clarifying questions and thanked the audit team. The board then took roll‑call votes on routine business, including accepting the audit and the auditors’ management report. The motions passed by roll call as recorded in the meeting.
The acceptance of the audit concludes the auditor’s formal presentation; the management report will be available for committee review and any recommended follow‑up steps at future finance meetings.
