Auditors give Eden Central a clean opinion for FY ending 06/30/2025, report modest surplus and reserve increases

Drescher Malachy presented the district's draft external audit for the fiscal year ended June 30, 2025, and delivered an unmodified (clean) opinion on the financial statements. "My name is Charles. I'm with Drescher Malachy," the auditor said, adding that the firm found no material weaknesses or significant deficiencies in internal control and no questioned costs in the child nutrition cluster.

The auditor summarized five-year trends and the latest-year results: total revenues of about $35,000,000 and total expenditures of about $34,840,000, producing a net increase in fund balance of roughly $145,000. He noted that most year-to-year expenditure growth reflected a $900,000 transportation increase attributable to two years' worth of bus purchases that had been postponed. The presentation broke down fund-balance changes, citing increases to retirement reserves ($220,000) and capital project reserves ($770,000) and a decline in the unrestricted portion by about $1,000,000.

The auditors flagged that school districts in New York must maintain an unassigned fund balance equal to 4% of spending under Real Property Tax Law section 1318; the presenter said Eden is striving to remain in compliance with that limit. The board subsequently approved the draft audit report as presented.

The audit presenter also described the standard set of audit deliverables to the board: the basic financial statements, a management letter with recommendations (this year limited to upcoming accounting pronouncements), and an auditor communications letter documenting roles and independence. The auditor said the statements were in draft while a state-supplied number affecting a long-term liability was finalized and expected to be incorporated before public release.