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External auditors give Eden Central School District a clean opinion; fund balance shows surplus
Summary
Drescher Malachy auditors presented an unmodified opinion on the district's 2023–24 financial statements, reported roughly $34.3M in revenues, $33.8M in expenditures and about $17.1M in total fund balance with $1.5M unassigned.
Nick Petronik, the district's external auditor, told the board the firm planned to issue an unmodified (clean) opinion on the district's basic financial statements for the year ending June 30, 2024, and reported no findings related to federal awards. "We are issuing an unmodified opinion on those financial statements," Petronik said, summarizing the audit results.
Petronik walked the board through key figures: general-fund revenues of about $34.3 million, expenditures of about $33.8 million and a positive change in fund balance of nearly $600,000. He reported a total fund balance near $17.1 million, roughly $6 million in capital reserves, $2.3 million in retirement reserves, $1.4 million in employee-benefit reserves and about $5.8 million unrestricted, of which approximately $1.5 million was unassigned as of June 30, 2024. The board later approved the audit report as presented.
