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Auditor issues clean opinion; board accepts FY25 external audit
Summary
Hayden Ross presented a clean opinion on the district's FY25 financial statements and the board moved to accept the external audit. Auditor Tony Mattson highlighted fund balances, revenue/expenditure totals, and a $17 million modernization lump-sum payment.
Tony Mattson of audit firm Hayden Ross told the Lake Pend Oreille School District board that auditors had "issued a clean opinion on the financial statement" for fiscal year 2025 and reported no audit findings.
Mattson summarized key figures: an ending general-fund balance of $21,835,000, total revenues of $49,110,000 and expenditures of $48,474,000. He also noted the district qualified for a modernization lump-sum payment of $17,056,460 and said the modernization fund ended the year with about $17,495,000 in equity. After the presentation a trustee moved to accept the external audit report; the board approved the motion by voice vote.
Board members emphasized staff work during the audit process. The board chair thanked the finance team for their accounting and oversight and the board voted to accept the audit report as presented. The board noted the single-audit compliance work remains pending until federal compliance guidance is finalized.
