In a pivotal meeting held on December 11, 2023, the Granbury Independent School District (GISD) Board gathered to discuss the annual financial audit report, presented by Lindsay Kinnimer from the Snow Garrett Williams CPA firm. The atmosphere was charged with anticipation as board members prepared to review the financial health of the district.

Kinnimer began by highlighting the key findings of the audit, which covered the fiscal year ending August 31, 2023. The report revealed a clean, unmodified audit opinion, the highest assurance level, indicating that GISD's financial statements fairly represent its financial position. This positive assessment is crucial for maintaining trust and transparency within the community.

The audit report detailed that GISD's total assets amounted to approximately $41 million, with total liabilities at about $9 million. The district's fund balance stood at around $30 million, with a significant portion—$25 million—allocated to the general fund. Kinnimer noted that while the district experienced a decrease in fund balance of nearly $4 million, this was largely due to planned expenditures, including a substantial investment in land purchases.

A notable point of discussion was the district's revenue and expenditure trends. Total revenues for the year reached approximately $115 million, bolstered by increases in property taxes and state funding. However, expenditures rose to about $122 million, primarily driven by salary increases and capital outlay for new projects. Kinnimer emphasized the importance of these financial decisions, particularly in the context of maintaining a balanced budget, which GISD successfully achieved for the current fiscal year.

The board also reviewed the food service fund, which has been under scrutiny due to exceeding allowable fund balance limits. Kinnimer reassured members that GISD is actively working with the Texas Department of Agriculture to address this issue.

As the meeting progressed, board members engaged in discussions about the implications of the audit findings. One member inquired about how GISD's financial metrics compare to other districts represented by the CPA firm. Kinnimer responded positively, indicating that GISD's financial health is on par with or better than many other districts, particularly in terms of fund balance and tax rates.

The meeting concluded with a sense of accomplishment, as the board prepared to approve the audit report, a necessary step for submission to the Texas Education Agency by the January deadline. This audit not only reflects the district's financial stewardship but also sets the stage for future planning and resource allocation, ensuring that GISD continues to serve its students and community effectively.