LAVALLETTE — The Lavallette School District received a clean audit report this month, with a total fund balance of roughly $2.8 million heading toward the introduction of this year’s budget.
Richard Hellenbrecht, a certified public accountant with firm Robert A. Hulsart & Company, presented the audit report to the board of education and the public at the board’s Wednesday, Feb. 19 meeting. He gave a rundown of the three main components of the audit.
“Everything was filed on time — the state deadline this year for the audit report was Jan. 15, 2025,” Hellenbrecht said. “The AudSum (audit summary application) was due on Jan. 1, 2025. That’s a state program that’s used for the budget — you’re using it right now to prepare your ‘25-‘26 budget.”
According to the New Jersey Department of Education, the “AudSum is a required annual submission of budgetary basis revenue, expense and fund balance made by every school district, charter school and renaissance school project in conjunction with their independent school auditors.”
Hellenbrecht then moved on to the final and “most important” item on the list, the results of the audit.
“The results of our examination contain no findings or recommendations,” he said. “The district is doing everything it needs to be successful as far as its financial reporting. We’ve got all the records we need, all the information.”
He also went over the district’s total fund balance, which is $2,807,352; this number is an increase of $128,812 compared to this time last year.
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