Gadsden finance staff present unaudited 2023–24 annual financial report; board weighs continuing consultant contract

Gadsden County School District finance staff presented the district's unaudited Annual Financial Report (AFR) for fiscal year 2023'24 and asked the school board to consider continuing a consultant contract to complete cleanup work and assist with next-year reporting.

Director of finance Ms. Bruner told the board that, per the AFR discussion and analysis, "the general fund unassigned fund balance was $2,800,000 or 6.7% of the total general fund revenues." She said that increase reflected, in part, the "utilization of ESSER funds" and stressed the AFR figures are a closing snapshot for 2023'24 that may change as auditors review prior-year items and as the district finishes reconciliations for 2024'25.

Why it matters: the unaudited fund-balance number determines the starting point for the district's 2024'25 budget and can change if auditors require prior-year adjustments. Ms. Bruner told the board the Auditor General's review could prompt edits and that the district has the ability to make prior-year adjustments or return funds if audit findings require it. She also said the district must complete the ESSER reconciliation and several indirect-cost filings before finishing the 2024'25 AFR; the completion deadline cited was Sept. 11 (date given in the meeting).

Key details and next steps

- Fund balance and audit timing: Ms. Bruner said the unaudited general fund unassigned…