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Board hears audit showing fund balance decline to 28.16% of expenditures
Summary
Auditors Roslund Prestage & Co CPAs reported the district's fund balance fell to 28.16% of expenditures from 33.95% in 2024 and found no reportable noncompliance under Government Auditing Standards.
Roslund Prestage & Co CPAs presented the Ashley Community Schools audit on Nov. 17, reporting the district's fund balance as a percentage of expenditures is 28.16%, down from 33.95% in 2024. The auditors reported "no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards."
The auditors highlighted the drop in fund balance as a percent of expenditures compared with last year but did not identify any reportable compliance issues. Board members did not propose changes to the financial policies during the meeting; the board approved the audit as presented in a recorded vote (Yea: 5, Nay: 0, Absent: 1).
The audit presentation provides the board with the financial snapshot used to plan for the coming budget cycle. The district will continue routine budget monitoring; no formal budget amendment or follow-up report was directed at the meeting.
