Neshaminy board reviews 2021–22 audit, hears there were no findings

The Neshaminy School District board heard a presentation on the district’s 2021–22 audit and was told external auditors found no reportable deficiencies.

Business office staff member Mr. Erwin walked the board through key parts of the report, including the statement of net position, fund financial statements, notes on investments and taxes, capital assets and long-term liabilities, and pension and post-employment benefit disclosures. He said the auditor’s opinion stated the financial statements presented fairly in accordance with generally accepted accounting principles and that the single-audit portion identified no findings or questioned costs.

Erwin highlighted fund-level results: the district reported nearly $192 million in revenues, approximately $191 million in expenditures for the year and added about $1 million to the fund balance. He pointed the board to note material such as the schedule of district pension contributions, the actuarial work by Conrad Siegel on postemployment benefits, and the supplementary budgetary comparison schedules.

Board members asked for clarification about figures on page 18 showing capital project funds. Erwin explained the capital project fund reflects debt issued to finance the new elementary school and is separate from the general fund. Some of the district’s designated capital amounts are earmarked for the fields project and other ongoing capital needs such as roofing, paving and technology infrastructure. He said the capital-project debt would be used for the new elementary school while the general fund supports ongoing capital maintenance.

No formal vote on the acceptance of the audit occurred at this meeting; the item was listed for approval at the district’s next public board meeting.