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Board approves December financials, investment policy, auditor and capital purchases
Summary
Trustees approved the district's December 2024 financial reports, annual investment policy and list of qualified brokers, retained the external auditor, and approved several district purchases and contracting delegations in unanimous votes.
Lubbock ISD trustees approved the district’s December 2024 financial reports, annual investment policy, the external audit agreement, and several capital and procurement items in a series of unanimous votes.
Chief Financial Officer (presented by Dr. Williams/Dwayne) summarized the December financials: the district was approximately 53% spent year‑to‑date, food service fund balance remains strong, capital projects spending is winding down for the 2018 bond program, and per‑student revenue for the 2022–23 actuals was reported in the presentation as $14,097 (an increase of $1,360 from the prior year). The board approved the budget summary, budget amendments, tax collection statement and the December investment report by a 6–0 vote.
Trustees reviewed and approved the annual investment policy and the listing of qualified brokers; speakers noted that investments are collateralized and that the district’s rate of return had decreased slightly from prior years but remained strong (presentation cited about a 5.5% return). The board also approved renewing the district’s external audit engagement with Bollinger, Segars, Gilbert & Moss LLP (BSGM) for the 2024–25 fiscal year.
On procurement, trustees approved pass‑through funding for an annual summer program partnership with Texas Tech University (Tockington School for Young Women Leaders) and authorized purchase orders for portable classrooms (buildings only) to support school consolidations. The board delegated authority to the superintendent to use construction job order contracting delivery methods for three projects — roofing repairs at three high schools, classroom renovations at Atkins, and portable installation tied to consolidations — to expedite procurement and scheduling.
All of these motions carried by unanimous votes (recorded 6–0) during the meeting. Trustees asked staff to continue providing detailed follow‑up on capital project balances and remaining bond work as the district completes spending on the 2018 bond program.
