Auditors give Winston-Dillard SD 116 a clean opinion but warn of rising long-term liabilities

Auditors presented the districts financial statements for the year ending June 30, 2025, and issued an unmodified, or "clean," opinion.

"We audited the Winstonville School District for the fiscal year ending 06/30/2025," said Stacy Raff of audit firm Una Davis, who presented the findings to the board. Raff reported government-wide ending net position of $31,800,000 (down about 8% from the prior year) and a governmental funds ending fund balance of approximately $6,327,000 (down about 13%). Raff said cash and investments were about $20.2 million (an 8% decline) while revenues were $25.4 million (up roughly 4%).

Raff also flagged an increase in the districts long-term unfunded liability: "The current unfunded liability is up to $8,300,000 as of the end of the year," she said, noting that actuarial changes drove the increase. She described that obligation as a long-term item that will change as the districts employee mix and retirement rules evolve.

The audit noted expenditures and liabilities grew year over year: government-wide expenses were about $26.2 million (up ~3%) and liabilities ended near $27.1 million (up ~6%). Raff said the districts typical liquidity and budget ratios remained within acceptable benchmark ranges and that the audit detected no material misstatements, qualifications or control deficiencies.

The board welcomed the presentation and asked staff to continue monitoring the unfunded liability and to include the audit summary in upcoming budget planning. The audit presentation was informational; no board action beyond review was recorded at the meeting.

Next steps: staff and the board will use the audit figures when preparing the 2026-27 budget documents and will monitor actuarial updates that affect long-term liabilities.