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Independent RSM review finds 2021–23 revenue overestimates and declining fund balance led to multi-year deficits
Summary
RSM, commissioned by the board, reviewed fiscal years 2021–23 and found repeated budget-to-actual revenue shortfalls driven largely by overoptimistic state revenue assumptions (ADA), a $35 million drop in the general fund balance from FY21 to FY23, and limited transparency in budget inputs.
An independent review commissioned by the Keller ISD board and presented Jan. 30 concluded recurring budgeting practices and overly optimistic revenue assumptions produced multi-year general-fund deficits through fiscal 2023.
Scope and findings Audit firm RSM (Leo Munoz and Kevin Hett) said the firm analyzed district budgets and actuals for fiscal years 2016–2023, with a focused review on 2021–23. Key findings included: - Revenue shortfalls: Significant variances between budgeted and actual revenues beginning in 2021, primarily driven by state revenue assumptions tied to average…
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