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Wakefield auditors issue unmodified FY2025 opinion; district reports stable finances
Summary
Auditors issued an unmodified opinion for Wakefield Community Schools’ FY2025 financial statements. The General Fund reported $10.01 million in receipts and an ending balance of $2.74 million; total net position was $3.96 million.
Wakefield Community Schools received an unmodified opinion from Dana F. Cole & Company LLP on the district’s FY2025 financial statements, indicating the auditors found the financial statements to present fairly in all material respects.
Key figures in the audit: total program expenses of $10,878,261 with instruction comprising $6,928,890; General Fund receipts totaled $10,010,264 with an ending General Fund balance of $2,741,088; the district’s total net position at Aug. 31, 2025, was $3,958,482 (a decline of $2,098 from the prior year). The audit noted no significant deficiencies in internal control or instances of noncompliance.
The auditors highlighted revenue variances: local property tax receipts underperformed budget estimates, while state sources (apportionment and nameplate capacity) exceeded projections; federal grants of $785,533 supported programs including special education. The administration recommended monitoring property‑tax collection timing and pursuing additional categorical grants to address special education shortfalls.
