Auditor: Holland Central receives unmodified FY2025 opinion but flags Real Property Tax Law compliance

Sarah Handley, the district—auditor, told the board the Holland Central School District received an unmodified opinion on its basic financial statements for the fiscal year ending June 30, 2025, the strongest outcome in an external audit. "The district has received an unmodified opinion," Handley said, noting there were no identified material weaknesses or significant deficiencies in the financial-statement audit.

Handley said the audit team also issued a management letter and an auditor-communication letter outlining best practices and upcoming accounting pronouncements. She identified one compliance-related significant deficiency tied to requirements under New York—Real Property Tax Law (section 1318), adding the district has plans to address the overage. Handley summarized the year——s activity: total revenues of $22,300,000 and total expenditures of $22,900,000, producing an approximate decrease in fund balance of $567,000; the district moved $11,000,000 from reserves into the capital projects fund, and the unassigned fund balance at 06/30/2025 was reported at about $1,229,000.

The auditor emphasized cooperation with district staff: "We had full cooperation of everyone," Handley said. The presentation included five-year trend charts of general-fund revenues and expenditures and a breakdown of restricted and unassigned fund-balance components. The board received an updated reserve plan reflecting the last fiscal year; the audit materials and the extra-classroom activity report will be available to the district.