LBMC gives JCPS an unmodified opinion on FY 2025 audit; board hears stable financial findings

Auditors from LBMC presented their audit of Jefferson County Public Schools at the Nov. 18 board meeting and issued an unmodified opinion — the highest standard auditors give on financial statements.

Megan Reynolds of LBMC told the board the firm found no significant difficulties during the audit and no unadjusted audit differences, meaning the financial statements are, in their view, presented fairly in all material respects under generally accepted accounting principles. District staff said the audit covered the fiscal year ended June 30, 2025.

Board discussion highlighted several positive indicators from the audit, including improved attendance and statements that the district’s financial position remains stable. The presentation referenced an operating budget figure stated in the meeting (transcript text lists an operating budget number as 2,400,000,000.0). Officials also noted revenue was up about 6.9% over the previous year while lowering the tax rate.

Board members asked about current enrollment: staff said projections listed 96,800 students but current enrollment was approximately between 94,000 and 94,500; staff committed to provide the exact student count.

RMAC (the board’s Audit and Risk Management Advisory Committee) and LBMC discussed the audit review process; the committee previously reviewed the detailed statements and LBMC said it was satisfied with management’s cooperation. No material audit exceptions were reported to the board.