At the Feb. 20, 2025 meeting, auditors from Alden and Jenkins and district finance staff presented the fiscal year 2024 audit results and the district's December 2024 monthly financial report.

Hope Pendergrass (Alden and Jenkins) told the board the audit of the fiscal year ending June 30, 2024, resulted in an unmodified (clean) opinion. The district also produces an annual comprehensive financial report; Pendergrass said only about 15 districts in the state prepare that extra report and commended district management for the effort. The auditors performed a single (compliance) audit on a risk-based sample of federal programs; this year they reviewed Title I and the 21st Century Community Learning Centers program, which together represented about $22,000,000 (roughly 26% of federal expenditures sampled). Pendergrass said auditors found the sampled programs “in order” and offered recommendations discussed with the board and management.

Eric Bush presented the monthly financial report for the six months ending Dec. 31, 2024. Key figures Bush reported included general fund totals as of Dec. 31: total assets $108,700,000; total liabilities $16,100,000; fund balance $92,600,000. Year-to-date general fund revenues totaled $145,200,000 (54% of budgeted revenue) and total expenditures and encumbrances totaled $132,500,000 (48.8% of the budget). For all funds combined as of Dec. 31, Bush reported total assets of $728,300,000; liabilities of $46,000,000; and a combined fund balance of $682,200,000. Cash on hand and investments totaled about $158,600,000. All-funds year-to-date revenues were $213,600,000 (about 56% of budget) and expenditures/encumbrances were $206,900,000 (about 54% of budget).

Board members asked whether ESSER/COVID-era funds were included in the audited totals. Pendergrass confirmed that ESSER expenditures that were spent in fiscal year 2024 are included in the audit totals; she explained auditors rotate federal programs for compliance testing and did not audit ESSER specifically this year because prior years raised no issues and the risk-based plan permitted rotating to other programs.

Board member Doctor Fickling asked questions about special revenue funds and where proceeds from local ticket sales or dinners are recorded; finance staff said they would follow up with specific information. Bush noted that special revenue funds typically include federal grants such as Title I and school nutrition, while other local receipts may appear in different miscellaneous categories. The auditors and finance staff closed by thanking district staff for timely close-out that supported an early audit start and completion.