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Audit firm tells Lake Dallas ISD taxable-value audits returned $2.3 million since October
Summary
Pope Audit Firm presented the district's taxable value audit process and reported about $2.3 million in additional revenue recovered since October through challenges to the comptroller's certified values.
At the July 21 meeting of the Lake Dallas Independent School District Board, representatives from Pope Audit Firm explained the district's taxable-value audit work and said their work has produced about $2.3 million in additional revenue for the district since October.
Dr. Billy Walker, introducing Dr. Missy Pope, summarized the audit process and cited state rules. "It's in state law. It's in the administrative code 9.103," Walker said, describing how a district may challenge certified values and seek adjustments that affect state funding calculations. He described the process in which local appraisal-district values are transmitted to the Texas Comptroller and become certified values that TEA uses to calculate state payments; districts may later challenge those values through the taxable-value audit process.
Walker told trustees the firm has completed multiple audits for Lake Dallas ISD since October and that the recovery has totaled roughly $2,300,000. "Since October, you've realized $2,300,000 from the work that we do," he said.
The presenters explained the work can be lengthy because the comptroller and appraisal districts take time to complete their certification process; once numbers are certified the firm analyzes the categories and seeks adjustments where appropriate.
Why it matters: taxable-value audits can change a district's certified value and thereby affect the mix of local versus state funding the district receives. The board received the presentation as an information item and can consider audit work as an ongoing revenue-recovery tool.
Ending: Trustees had no questions beyond expressions of appreciation for the work; Dr. Walker noted the process is a state-authorized option for districts and indicated Pope Audit Firm continues to serve Lake Dallas ISD.
