Snake River trustees accept 2024–25 audit showing healthy reserves; no findings

The Snake River School Board on Nov. 19 accepted the district’s independent financial audit for the fiscal year ending June 30, 2025, after a presentation from Kurt Folke of Quest CPAs. The board approved the audit unanimously, 5-0.

Folke told trustees the audit contained three reports: the financial statement (unmodified opinion), an internal controls and compliance report (no findings), and a federal compliance report covering awards such as Title I and Child Nutrition (no findings). He said the audit supports relying on the district’s financial statements for decision-making.

The audit showed a $2,322,480 net increase in the general fund for the year and an ending general fund balance of $14,958,098 — roughly a six-month operating reserve at current expenditure rates. Folke also reported a total government fund balance of $26,280,690.

Trustees reviewed individual fund performance: the Child Nutrition fund decreased by $90,282 to a $60,941 balance; the Bond R&I fund recorded an intentional $356,921 loss while holding $1,889,000 for future bond payments; the Plant Facility fund increased by $47,864; and the new Modernization Facilities Fund (Snake River’s share of the state bond program) stands at $8,026,081 with $7,762,014 unspent after $328,637 of local spending in 2025.

Superintendent Mark Kress said the district plans to use available fund balances to pay for future facility projects rather than levy patrons. The board approved the audit report on a motion by Carol Hepworth and a second from Josh Sorensen; all members voted aye.

The district will incorporate audit recommendations and continue regular financial reporting at future board meetings.