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Prosper ISD board accepts clean 2023–24 audit, approves personnel and investment authorizations
Summary
At its Jan. 23 meeting the Prosper ISD Board of Trustees voted unanimously to accept the district’s 2023–24 financial audit, approved the consent agenda, updated authorized users for the tax pool investment account and approved personnel hires and the superintendent’s contract renewal.
The Prosper ISD Board of Trustees on Jan. 23 accepted an unmodified (clean) audit for the 2023–24 fiscal year and approved several routine governance items, including personnel hires and an update to authorized users for the district’s tax pool investment account.
The audit presentation noted the general fund ended with $317,300,000 in revenues and $297,800,000 in expenditures for 2023–24. “For the General Fund, this results in a net change of $16,300,000 compared to 23.5 the previous year,” the district finance presenter said during the meeting. The report showed an unassigned fund balance of $84,900,000 (about 104 days of expenditures), rising to about 185 days if $66,000,000 committed to construction is included.
Why it matters: a clean audit signals the district’s financial statements meet accounting standards and improves transparency for taxpayers and bond investors; the board’s acceptance also authorized transferring $3,500,000 from the general fund into targeted reserves described in the audit presentation.
Key details from the audit presentation and board discussion: - General fund revenues: $317,300,000 (a $43,400,000 increase year over year). - Investment earnings increased by $51,700,000, offsetting a decrease in property tax revenue. - The board authorized transfers totaling $3,500,000 (2.5 million to a local construction fund and $1,000,000 to a risk management fund). - Debt service tax revenue was reported at $105,900,000; the debt service fund balance was $21,900,000 as of Aug. 31, 2024.
Board action and votes at the meeting: - Consent agenda: moved by Mr. Cavender, seconded by Mr. Van Wolf; approved 6–0. - Acceptance of the 2023–24 annual financial audit: moved by Mr. Webb, seconded by Mrs. Dixon; approved 6–0. - Updated authorized users for the tax pool investment account: moved by Mr. Van Wolf, seconded by Mr. Cavender; approved 6–0. - Approval of hiring contract personnel as presented by the administration: moved by Mr. Van Wolf, seconded by Mr. Cavender; approved 6–0. - Renewal/approval of the superintendent’s contract as presented: moved by Mrs. Dixon, seconded by Mr. Webb; approved 6–0.
Board members present who voted in favor on each recorded motion: Bill Beavers (Board President), Mr. Webb (Trustee), Mrs. Dixon (Trustee), Mr. Cavender (Trustee), Mr. Linker (Trustee), and Mr. Van Wolf (Trustee). The meeting record shows no votes opposed or abstentions on these items.
Background and context: the board noted ongoing growth pressures (the district reported an enrollment of 32,026 students earlier in the meeting), recent bond-authorized construction, and the district’s practice of maintaining strategic reserves to manage rapid enrollment and facility expansion. The auditors and district staff emphasized strong tax collection rates (current tax collections reported at 99.6%) and no material weaknesses in internal controls.
What the board directed: no additional study motions or follow-up tasks were included with the motions recorded; administration will post the comprehensive audit report and a condensed “popular” version for public review, per the presenter’s remarks.
Votes at a glance is a factual summary of actions recorded in the Jan. 23, 2025 Prosper ISD Board meeting; it does not infer additional policy beyond the motions the board made and voted on.
