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Independent auditor issues clean opinion; board reviews audited financials and budget outlook
Summary
Auditors gave Helix School District a clean opinion on the fiscal year ended June 30, 2025. The board reviewed audited financial statements, key balances, grant receipts and budget pressures tied to federal/state funding and PERS; the board approved last month’s financial report.
Cockburn & McClintock, LLC presented the district’s independent auditor’s report and management’s discussion and analysis for the fiscal year ended June 30, 2025.
Kylie McClintock told the board the audit yielded a clean opinion and that the auditors encountered no significant difficulties or disagreements with management. The audit packet and management’s discussion highlighted the district’s net position of $4,913,246, cash and cash equivalents of roughly $3.72 million, an audited General Fund ending fund balance of $1,630,451, and major revenue sources including the State School Fund (SSF) and property tax receipts. McClintock summarized sensitive accounting estimates identified in the audit—deferred inflows from property tax collection timing, capital‑asset valuation and depreciation, pension (OPERS) and OPEB measurements, and accrued compensated absences under newly adopted GASB guidance.
District staff also reviewed the current month financial update (December): Kara Taylor (IMESD/assistant business manager) reported the district received a basic school support payment and property tax receipts for the month and listed larger check‑register items; the board voted to approve the financial report as presented.
Why it matters: The clean audit affirms the district’s financial statements were presented fairly in accordance with U.S. GAAP and supports public transparency for taxpayers. The packet noted an ongoing dependency on state school formula funding and highlighted budgetary stresses if formula adjustments occur; the district’s budget planning assumes specific SSF estimates and projects enrollment‑based revenues.
Numbers and context: The audit documents show net position $4,913,246; cash and cash equivalents $3,720,415; General Fund assigned and unassigned balances totaling $1,630,451; State School Fund receipts cited in discussion total $2,984,262 for the year per MD&A. Management noted a $128,100 CTE Revitalization grant awarded last year and a planned $2,499,992 seismic grant referenced in capital planning materials (the transcript does not specify the granting agency). The audit materials also document the district’s proportionate share of OPERS net pension liability and detailed pension‑related deferred inflows/outflows used to calculate pension expense and long‑term liabilities.
Next steps: The board accepted the audited financial statements into the record and directed staff to continue monitoring SSF estimates, PERS rate impacts and capital project spending; the board also scheduled additional contract and procurement steps linked to capital work.
