CLEARFIELD – The Clearfield Area School District received a clean bill of health and accepted its annual audit report at Monday night’s special meeting.
According to Katherine Eckley of Walter Hopkins & Co. LLP, the district received an “unmodified” opinion, meaning there were not any discrepancies identified in its financial statements.
Eckley said the district’s unassigned fund balance – as of June 30, 2021 – was $6.7 million with another $8.5 million in assigned fund balances.
Specifically, it’s assigned $2.9 million to debt service obligations; $1.6 million to capital projects; and $3.6 million to future retirement, cyber-charter tuition and health insurance increases.
The district has also assigned a fund balance of $411,434 for any possible real estate tax appeals. Overall, Eckley said the district experienced a $1.3 million decrease in its fund balance and finished the year with a combined ending fund balance of $15.2 million