External auditors reported an unmodified (clean) opinion on Cornwall Central School District’s 2024–25 financial statements and a clean single-audit on federal grants, the school board learned at its Sept. meeting.

"We issued what's called an unmodified or a clean opinion," EFPR partner Doug Zorman said, adding that the firm found no material weaknesses, deficiencies or reportable noncompliance under government audit standards. He told the board the district's undesignated fund balance stood at 3.54%, under New York's 4% threshold.

Why it matters: A clean audit gives the board and the public formal assurance that the district’s books and federal grant compliance were examined and found to meet applicable standards. The fund‑balance level matters because exceeding the state limit can trigger required corrective plans or midcourse budget adjustments.

Board members used the presentation to press on policy choices about reserves and anticipated cost drivers. Zorman said districts that exceed the 4% cap generally have two practical options: formally allocate excess to reserves or appropriate the funds into the following year’s budget so the higher balance is reduced by spending. "There are really the only two avenues that you have," he said.

Trustees also asked about long‑range risks. Zorman flagged transportation and benefits as recurring fiscal pressures, citing districts that are wrestling with the cost of electric buses and multi‑year health‑care increases of “15 or 20%” in some cases. "As board members, you really have to know not only what's happening in the next fiscal year, but what might be occurring two or three years out," he said.

During a public exchange, board members noted a longer trend toward higher state aid and a declining share of local tax levy revenue. One member said that, if state funding continues to comprise a larger share of revenue, the district becomes more exposed to funding sources it cannot control.

What the audit covered: Zorman said auditors tested major federal programs in the special education cluster and found no instances of noncompliance. He also noted a district practice that keeps undesignated fund balance below 4% and described how EFPR tests internal controls in light of personnel turnover in the business office.

Next steps: Board members thanked the audit team and district finance staff (including the district treasurer) for the work. Trustees asked administration to provide follow‑up details on options for reserves, and to continue discussion of longer‑term liabilities such as transportation and health‑care costs as the 2026 budget season approaches.