Petersburg schools had, overall, a clean audit on a good fiscal year, which ended June 30. The school was able to set aside a healthy amount, budgeting for future maintenance around a law that capped reserve limits at 10 percent of schools’ expenses.

“In our opinion, the financial statements are fairly stated in all material respects,” said Eric Campbell, a partner in the international services firm BDO, which completed the school’s audit. “That’s a clean or unmodified opinion. That’s what you want. (Finance Director Karen Quitslund) does a great job preparing for the audit.�...