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Auditors give Bonneville Joint District 93 a clean opinion; district reports $52.5 million in school modernization revenue
Summary
External auditors delivered a clean FY25 opinion with no findings; staff noted a new $52.5 million state school modernization revenue fund consolidated into capital projects and highlighted $21.8M construction in progress and shifts in federal aid levels.
External auditors presented the district’s draft FY25 financial statements and reported an unmodified (clean) opinion with no significant deficiencies or material weaknesses in internal controls.
Becca Powell (Wipfli), the lead presenter, told trustees the financial statements were presented fairly in all material respects and that audit testing found no control weaknesses. She noted the district established a new school modernization fund after receiving $52,500,000 in FY25 state modernization revenue, which the district consolidated into its capital projects fund. Powell also flagged approximately $21.8 million in construction in progress at the fiscal year end and an increase in investment earnings (from about $4.3M to $5.4M).
Trustees asked about the apparent differences between funds (the presenter explained the $52.5M is for high school renovations and a separate $11M item relates to bond payment positions). The superintendent noted that the single audit (federal programs) remains pending federal guidance; auditors said no issues have arisen from initial testing of the Child Nutrition cluster.
The board moved and approved the FY25 audit as presented so the district could submit final documents to the state and remain eligible for the November payment.
The board requested staff present any audit follow-ups at a future work session and to detail how the $52.5 million will be allocated to projects.
