Auditor gives Osage City Schools a clean opinion, cites $4.59M unencumbered cash

Kim Link of Varney & Associates presented the district's audited financial statements for the year ending June 30, 2025, and said the firm issued an unmodified opinion. "We did issue an unmodified opinion of your financial statements, which is a clean report," Link told the board.

Link summarized key figures and compliance points. She said the district's ending unencumbered cash on June 30 was $4,590,379 and that Varney found "no unusual transactions, no material misstatements, [and] no disagreements with management." She noted the district's federal expenditures were below the single-audit threshold this fiscal year (reported as $750,000) and that the threshold will increase to $1,000,000 in the next audit cycle.

Board members had the opportunity to ask follow-up questions about schedule details and notes to the financial statements. Link pointed the board to schedules and notes in the audit document, noting pages that summarize funds, outstanding encumbrances and accounts payable. No formal findings or material violations of Kansas statutes were reported in the audit presentation.

The board accepted the audit presentation and thanked Varney & Associates for the review. The presentation will accompany the district's financial records and be posted with other board materials.