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Auditors give Seaside SD 10 a clean opinion; one accounting standard change noted
Summary
External auditors from PolyRogers presented an unqualified (clean) fiscal-year opinion for 2025 and reported no federal or state compliance exceptions; they flagged one upcoming GASB change related to compensated absences and offered control recommendations.
Brian Thompson, audit team lead from PolyRogers, told the Seaside School District board the firm was able to issue an unqualified opinion on the district's fiscal-year 2025 financial statements, which he summarized as "a clean opinion." Thompson said auditors found no state management exceptions, no federal award noncompliance and no questioned costs.
Thompson identified one significant accounting matter tied to a new GASB standard that changes how districts report compensated absences: "moving forward, this will now include sick leave," he said, noting that historically the district presented vacation and paid time off separately. He also offered recurring best-practice recommendations, including reviewing fidelity insurance coverage for cash balances, re-examining third-party compliance outsourcing, and ensuring timely review and approval of bank reconciliations and disbursements.
A motion to approve the audit report as presented was made and seconded; the board approved the audit by voice vote with no opposition. Staff agreed to provide additional detail if trustees requested follow-up on the recommendations.
Provenance: topicintro SEG 041, topfinish SEG 204.
