FY25 audit finds material weaknesses in financial controls

What happened

The FY25 audit identified material weaknesses in general-ledger maintenance and bank reconciliations after multiple accounting-system conversions; the audit required an adjustment with a net impact of about $300,000.

Why it matters to families

Weak reconciliations and ledger controls can obscure the school's financial position and make budgeting harder, although the final FY25 result was a $312,744 surplus and leaders said they did not expect the issue to recur.

The evidence

The November 12 approved minutes record the material weaknesses, missing reconciliations from November 2024 through June 2025, the approximately $300,000 adjustment, and management's planned control improvements.

The source