Lake Dallas ISD trustees approve annual comprehensive financial report, request budget workshop

Lake Dallas Independent School District trustees unanimously approved the district's annual comprehensive financial report at a special meeting Jan. 23, 2025, after an auditor reported no material issues and trustees asked staff for a follow-up workshop on budget variances and one-time revenues.

The report, required to be filed with the Texas Education Agency within 150 days after the fiscal year end, was presented by Rob Saye, the district's external auditor from Hankins, Eastup, Deaton, Tawn, Saye & Scarborough, and reviewed by district staff including Anne Hahn. Saye told trustees the audit opinion found the financial statements were “fairly presented” and noted no disagreements with management.

Saye said the district's general fund balance was just over $14,000,000, representing roughly four months of expenditures, and that the audit included government-wide statements showing debt, fixed assets and the district's proportionate shares of pension and OPEB liabilities. He summarized the required single-audit work for federal programs and said the district met compliance and internal-control expectations for the programs examined.

In board discussion, district staff clarified several year-to-year budget items raised by trustees. The board was reminded that the district had adopted a budget with an initial projected deficit of $211,354 but closed the year with an increase to fund balance of $687,093. Anne Hahn, district staff, confirmed that purchases of police vehicles were paid from the general fund. She also explained the district executed a budget amendment for a school bus: the purchase order was issued in the prior fiscal year but the bus was received after Sept. 1 and therefore was paid in the following fiscal year.

Trustees asked for more regular and detailed updates during the budget process so they could better assess recurring versus one-time revenues before making staffing and compensation decisions. “We can give you a breakdown for last year,” Hahn said, offering to present the requested detail and to show which revenues were one-time items such as a safety and security grant that allowed recognition of prior-year expenditures and an atypical tax audit recovery.

The audit packet also included the statistical section and notes showing the district's debt schedule and a breakdown of special revenue funds. Because the district received more than $750,000 in federal funds, the auditors performed a single audit and reviewed compliance for major federal programs including Title I, IDEA-B (special education) and the school food-service program; auditors also noted Impact Aid and flood-related federal funds specific to the district's lakeshore area.

After discussion, Trustee Tucker moved to approve the annual comprehensive financial report; Trustee Appleby seconded. The motion passed unanimously.

The board adjourned at 5:52 p.m.