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External auditors give district clean opinion; fund balance at state cap
Summary
The district's external auditors, RS Abrams, issued unmodified (clean) opinions on three financial reports and found no items in the management letter; the general fund's unassigned balance sits at the state's 4% cap, and the auditors noted revenue and expense shifts tied to higher property-tax levy, special-education services revenue, interest income and increased personnel costs.
Chris Snyder of RS Abrams told the board the district received unmodified opinions—often called a clean opinion—on three reports: the district-wide financial statements, extra classroom activity fund statements, and the single audit of federal grant programs.
"An unmodified opinion is the highest level opinion. That's a clean opinion," Snyder said, and added there were no items noted in the management letter. He told the board that reserves are funded and that the district's unassigned fund balance is at the state's 4% limit for next year’s budget.
Snyder also outlined year-over-year drivers: an increase in real property tax revenue following a voter-approved levy, higher charges for services due to additional special-education placements, increased investment/interest income tied to higher interest rates, and expenditure increases for instruction (salary), employee benefits and debt-service principal related to bond anticipation notes redeemed prior to bond issuance.
Board members thanked business office staff by name during the presentation; the auditor said Maureen and Zach ran an effective audit process. No corrective actions or findings were presented in the management letter.
The presentation concluded with the auditor inviting questions and offering the full slides for review online; the board accepted the report and moved on to approval items.
