Audit Information
In accordance with New Jersey statute and administrative code, all public school districts are required to undergo an annual independent audit of their financial statements and internal controls. This process ensures fiscal accountability, compliance with state and federal regulations, and transparency in the management of public funds.
For the 2024-25 fiscal year, the Colts Neck School District was audited by the independent public accounting firm Suplee, Clooney & Company. The audit included a comprehensive review of the District’s financial records, internal controls, and compliance with applicable laws and regulations.
As a result of this process, the auditors issued the District’s Annual Comprehensive Financial Report (ACFR) and Auditor’s Management Report (AMR). The ACFR provides a detailed presentation of the District’s financial position and results of operations for the fiscal year, while the AMR outlines findings, recommendations, and compliance-related observations, if any.
Pursuant to state requirements, the ACFR and AMR are posted on the District’s website for public review. If applicable, any associated Corrective Action Plan (CAP), outlining the District’s response to audit findings and steps for resolution, is also posted in accordance with regulatory guidelines.
The annual audit process reflects the District’s ongoing commitment to financial integrity, transparency, and responsible stewardship of taxpayer resources.