Clear Creek ISD accepts 2023–24 audited financial report; auditors issue unmodified opinion

Clear Creek Independent School District trustees unanimously accepted the district’s 2023–24 annual financial report following a presentation by Weaver LLP.

Greg Peterson, a partner with Weaver, told trustees the audit produced an unmodified opinion — the highest level of assurance — on both the district’s financial statements and the federal single audit covering the Child Nutrition Program. The auditors did not identify any material weaknesses or significant deficiencies in internal control and reported no noncompliance with laws and regulations for the period ending Aug. 31, 2024.

Key figures cited by the auditor included 92 days of operating expenses in the general fund’s unassigned fund balance (an increase from 75 days the prior year), approximately $114.8 million in general-fund cash and investments at year end, and a $178.9 million capital-project fund balance largely representing unspent bond proceeds from the district’s 2024 series issuance. Peterson also explained the reporting requirement that produces a negative net position on full-accrual government-wide statements because of long-term pension and OPEB liabilities; when those are backed out for operational analysis, the position is positive.

Superintendent’s staff and board members asked questions about why expenditures were lower than budgeted; auditors and staff attributed most of the positive variance to payroll vacancies and higher-than-anticipated state aid tied to special education and career-and-technical education allotments.

Trustee Cheka moved to accept the annual report; the motion passed unanimously. The board thanked the finance staff and auditors and directed staff to continue regular reporting and closeout procedures.