Auditors give HEB ISD clean opinion for FY24; trustees accept report and review interim financials
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Summary
Weaver and Tidwell issued an unmodified opinion on HEB ISD's fiscal year 2024 financial statements and on Child Nutrition federal testing; the board accepted the audit and approved November 2024 financial statements and related financial items including budget transfers and investment reports.
External auditors Weaver and Tidwell presented the district's annual audit for the fiscal year ended Aug. 31, 2024 during the HEB ISD board meeting on Jan. 13 and issued an unmodified (clean) audit opinion for the district's financial statements and for single-audit testing of the Child Nutrition program. The firm designated the district a low-risk auditee for federal awards testing.
Auditor highlights and required communications Auditors said their work included interim testing of internal controls, risk-based testing of federal awards (Child Nutrition), and final fieldwork on year-end balances. Highlights presented to the board included: no material weaknesses or significant deficiencies identified; no fraud or illegal acts detected that are material to the financial statements; and no audit adjustments requiring material corrections.
Board action and financial summaries Trustees voted to accept the annual comprehensive financial report as presented. The board also approved the district's financial statements for November 2024. Finance staff summarized fund balances and activity: - General Fund: reported fund balance and year-to-date results consistent with expectations; investment interest income was highlighted. - Child Nutrition Fund: operating with a fund balance and usual turnover; expenditures tracking normally. - Debt service and bond funds: staff noted upcoming debt-service payments (first payment due Feb. 15) and bond fund activity; staff corrected a missing-zero transcription error during the presentation: the unsold bond amount discussed should be $397,300,000 (missing zeros were identified and corrected in the meeting).
Board members thanked finance and business operations staff; auditors and staff received the trustees'authorization to publish the audit and proceed with required state and federal filings.
Ending The audit acceptance allows the district to proceed with required financial filings and reinforces internal controls; trustees directed staff to publish the report and continue monthly financial reporting and project-level budget oversight.
