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External audit: EMS ISD ends 2023–24 with $77.8M fund balance; auditor amends report to disclose $4.99M interim arbitrage estimate
Summary
The district’s external auditor, Carl Deaton, presented audited financial statements for the year ended Aug. 31, 2024, showing a $4.6 million increase in the general fund to $77.8 million and an unassigned fund balance of $57.8 million after earmarks.
The district’s external auditor, Carl Deaton, presented the Eagle Mountain Saginaw ISD audited financial statements for the year ended Aug. 31, 2024 at the Jan. 21 board meeting and highlighted results across major funds.
Key audited figures: Deaton said the general fund increased by $4.6 million in 2023–24 to an ending balance of $77.8 million. After accounting for the $15 million the board had earmarked for use in the 2024–25 budget, Deaton said the unassigned fund balance was $57.8 million — roughly 85 days of prior-year spending — which aligns with budget projections. He told trustees that the district’s capital projects fund…
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