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Auditor presents clean opinion; Chickasha school general fund balance dips about $850,000
Summary
Contract auditor Steve Blassingame gave the board an unmodified audit opinion, reported an ending general-fund balance of about $6.9 million (down roughly $850,000 from the prior year), and reviewed revenue and expenditure changes, including a $2.9 million drop in gross production tax receipts.
The district’s contract auditor told the Chickasha Board of Education the 2023–24 financial statements received an unmodified (clean) audit opinion and reviewed changes in revenues and fund balances.
Steve Blassingame, the auditor, told the board, “Our job is to audit your financials,” and said the district received a favorable opinion with no significant audit findings or uncorrected misstatements.
Blassingame said the district’s ending general-fund balance as of June 30, 2024, was “a little over $6,900,000” compared with about $7,700,000 the previous year — a decline of roughly $850,000. He said the building fund carryover increased to a little over $1,900,000, an increase of about $1,700,000, driven in part by insurance reimbursements and grants. The auditor reported state gross production tax receipts fell by about $2,900,000 year over year and noted federal ESSR pandemic-era reimbursements had largely ended, reducing federal revenue compared with the prior year.
On revenues, Blassingame attributed increases in local revenue mainly to higher property valuations and higher interest earnings; he cited a property-tax increase of about $687,000 and roughly $165,000 in extra interest earnings. On expenditures, he said general-fund spending rose by about $1.2 million on a roughly $26 million budget, driven principally by instructional costs, higher food costs and bus purchases.
Blassingame also noted the building fund received a $2.2 million insurance reimbursement, a roughly $360,000 “Redbud” grant, and a COPS grant of about $275,000. He told the board that although there are reserves and encumbrances typical at year-end, the district’s statements were fairly presented and there were no disagreements with management.
Board members asked no substantive follow-up questions during the presentation. The auditor praised district staff for cooperation and noted that the district’s accounting practices produced a straightforward audit.
The presentation serves as the formal audit communication to the board; staff will retain the written audit report and supporting schedules for public record.
