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Gadsden ISD finance committee reviews fund reports, lays out audit RFP schedule
Summary
Finance staff walked the committee through the district's expenditure report, explained fund numbering and encumbrances, and described the request-for-proposal process to hire the district's independent public accountant for the 2025 audit, including review dates and Office of the State Auditor deadlines.
Finance staff presented the district's monthly expenditure report and reviewed how funds, encumbrances and budget adjustments are recorded.
The committee was told the packet's report covered Feb. 1'Feb. 28, 2025, and staff explained the columns: original budget, adjustments (made by budget adjustment requests, or BARs), general ledger budget, current expenditures, year-to-date expenditures (since the July 1 start of the fiscal year), encumbrances (purchase-order commitments) and remaining budget balance. Staff emphasized encumbrances are commitments, not spent funds, and must be tracked to avoid overspending.
Staff explained the district uses a five-digit fund code scheme. Funds beginning with 1 are general funds (operating,…
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