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Wylie ISD board approves monthly bills, hears bond and cash update; auditor retained for 2024–25 audit
Summary
Trustees approved payment of the monthly bills, heard a financial update showing a remaining bond balance of about $169 million and a cash balance near $21 million, and voted to retain I. Bailey to perform the 2024–25 financial audit.
The Wylie Independent School District Board of Trustees approved payment of the monthly bills and voted to retain the district’s auditor for the 2024–25 fiscal-year audit.
The financial update provides a snapshot of bond and operating balances as the district moves through a period of heavy construction and annual fiscal cycles.
Board staff summarized the month’s major expenditures: routine items such as bus repairs and utilities; curriculum purchases including Houghton Mifflin materials for Read 180; a CTE purchase of about $19,000 for cybersecurity program computer requirements funded from state CTE dollars; monthly payments to Hendrick Medical Center for occupational and physical therapy and an athletic trainer contract; and a walk-in freezer purchased from food-service funds to store larger commodity deliveries. Staff reported April payroll at roughly $3.2 million and said April construction draw payments were about $2.9 million.
On the bond program, staff reported an original bond authorization of $186 million, with approximately $169 million remaining after accounting for expenses and interest. The presentation noted a rebatable arbitrage calculation item (staff cited an example amount of $354,000) that will be audited annually and may change depending on interest earned. The district’s overall cash balance as of April 30 was reported at a little over $21 million, which includes a debt-service reserve of about $6 million.
Trustees voted to continue the district’s external audit engagement with I. Bailey (motion approved). The motion to retain the auditor was made and seconded during the meeting and approved by the board.
Staff noted year-to-date expenditures at about 68% of budget and revenue at about 72%, both figures presented for trustee oversight. No changes to tax rate or budget adoption were taken at this meeting; the board was reminded of upcoming summer budget workshops and the special August meeting to adopt the budget and tax rate.
