Clean Audit Reveals $8.5 Million Increase in District 161 Net Position
Summit Hill School District 161 Meeting | December 17, 2025
Article Summary: An independent audit of Summit Hill School District 161’s 2024-2025 fiscal year has returned a “clean” opinion, showing a significant $8.5 million increase in the district’s net position and no findings of internal control deficiencies.
Audit Report Key Points:
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Clean Opinion: The district received an “unmodified” opinion, the highest level of assurance provided by auditors.
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Net Position: The district ended the fiscal year with a total net position of $45,561,381.
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Cash on Hand: Current assets included $33.28 million in cash and bank balances as of June 30, 2025.
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Debt Reduction: Total liabilities were reduced significantly due to scheduled debt payments made during the year.
The Summit Hill School District 161 Board on Tuesday, Dec. 17, 2025, accepted the results of its annual financial audit for the fiscal year ending June 30, 2025. Laurie Pope of Mack & Associates presented the report, highlighting the district’s strong financial standing.
The audit resulted in an “unmodified opinion,” which Pope described as a “clean opinion.” Crucially, the auditors reported no findings or deficiencies in the district’s internal controls.
“We feel that there’s no issues and concerns regarding the policies and procedures,” Pope told the board. “The internal controls that you guys do have in place would prevent and detect a material misstatement.”
The district’s total assets were valued at $100.6 million, including $33.28 million in cash and $42.5 million in capital assets like buildings and land. Total liabilities stood at $22.66 million, a figure that has decreased as the district pays down its outstanding bonds.
District 161 also received “recognition” status from the state on its Annual Financial Report (AFR), a standard that Pope congratulated the board for achieving.
Superintendent Dr. Paul McDermott thanked the district’s financial team, including Sluis and Director of Buildings and Grounds Walt Carlton, for their work in maintaining the records that led to the clean audit.
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