Patillo, Brown and Hill presented Tyler Independent School District's annual comprehensive financial report and issued an unmodified opinion on the district's 2023-24 financial statements, the auditing firm told trustees.

"This is what we refer to as an unmodified opinion," John Manning of Patillo, Brown and Hill said, explaining the firm did not need to modify its opinion due to departures or record-keeping issues. The auditor told the board the unmodified opinion is necessary for the Texas Education Agency's highest rating and that the district's financial statements are largely verifiable with limited estimation.

Manning highlighted several figures in the report: roughly $112 million in cash and cash equivalents, about $5.8 million in separate investments that were confirmed by outside parties, and a general fund balance just under $78 million with about $45 million of that assigned. The report showed the general fund reserves amount to roughly four months of expenditures, which Manning said aligns with best-practice guidance.

The auditor reported no significant deficiencies or material weaknesses in federal grants testing (including nearly $40 million in federal funds sampled) and praised district finance staff for preparing a comprehensive report. After the presentation the board approved the external audit report by voice vote.

CFO Casey Russell told trustees interest-rate income and investment yields are "mid to high 5%" compared with the previous year's low-to-mid 6% levels, and she explained the district has "a lot less cash because we've spent a lot of those bond proceeds on Hubbard and ECHS." Russell also said the special revenue funds reflect a budgeted decrease of about $40 million in ESSER resources across multiple years, noting that is a multi-year decline rather than a single-year drop.

Board members thanked the auditors and district finance staff for the work that produced an unmodified opinion and approved the audit on the meeting agenda. The transcript does not include a roll-call tally for the vote; the motion was recorded as passing by voice vote.