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Board accepts 2025 audit with unmodified opinion; single audit flags school food service cash
Summary
Auditors gave the district an unmodified opinion on the 06/30/2025 financial statements, reported a prior‑period adjustment tied to a new compensated‑absences accounting standard and noted a repeat finding of excess cash in the school food service fund; the board approved the report.
Auditors from Holman, Franny, Allison presented the district’s annual comprehensive financial report for the year ending 06/30/2025 and said they issued an unmodified opinion on the financial statements.
Jerry Conady told the board the firm found a prior‑period adjustment related to a new accounting standard for compensated absences that affected governmental entities nationally and described one repeat finding: excess cash resources in the school food service fund. He said district staff already had a plan to draw those funds down over multiple years, adjusting prices and spending to avoid a sudden fiscal impact.
Following the presentation, board members had no substantive questions and moved to approve the report. The motion to accept the 06/30/2025 annual comprehensive financial report, auditors’ management report, and corrective action plan (pending the federal single compliance supplement) passed on roll call.
