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Magnolia ISD board approves unmodified audit, authorizes property purchase and OKs pay for winter-storm closures
Summary
At a Magnolia Independent School District meeting, the board accepted an unmodified financial audit, authorized purchase of a 43,473-square-foot parcel for district use and approved a resolution to pay employees for two storm-related closure days.
The Magnolia Independent School District board on Monday accepted a financial audit that auditors described as an "unmodified opinion," authorized purchase of a roughly 43,473-square-foot parcel for district facilities and approved a resolution to pay employees for two days the district closed because of winter storm Enzo.
The actions came during a regular board meeting in which Robert Veil, representing the audit firm Belk, Paris and Pohacek, presented the district's fiscal-year financial statements and grant audit. "We're issuing an unmodified opinion, which is the highest level of assurance we can provide to the board," Veil said. He also told the board the district's general fund showed a net increase in fund balance of $926,000 and roughly 88 days of fund…
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