Beauregard Parish auditors issue unmodified opinion; committee hears $8.3M fund increase, post‑retirement deficit remains

Beauregard Parish School Board Finance Committee members received the fiscal year 2024 audit and financial reports during their Feb. 10 committee meeting at the Central Office. Sarah Werner of Langley and Williams and Company told the committee the firm issued an unmodified opinion and released the audit report on Dec. 31.

Werner said cash at June 30 was $56,800,000, up from the prior year after a $27,000,000 bond issuance and $22,000,000 in capital outlay. Receivables were $5,700,000 (including about $530,000 in FEMA reimbursement receivables); capital assets were $81,000,000; and deferred outflows related to post‑retirement obligations were $35,000,000. On the government‑wide statements, Werner reported a net position deficit of $87,400,000, which she said is driven by post‑retirement reporting and represented an improvement from $95,700,000 the prior year. On the governmental fund statements, fund balance totaled $51,400,000, an increase of $8,400,000 from the year before.

Total revenues for FY2024 were $96,500,000, an increase of $9,700,000 year over year; Werner attributed that to a $1.5 million rise in ad valorem taxes, about $4.5 million in higher sales tax receipts, roughly $900,000 more in state funding and an increase of about $1.9 million in other federal funding. Total expenses were about $115,000,000, up approximately $11,800,000, largely because of $22,000,000 in capital outlay and increased debt service tied to the new bond issuance. The net change in fund balance was a positive $8,300,000 after considering the bond proceeds.

Werner said the audit was conducted in accordance with generally accepted auditing standards and government auditing standards, and that the full audit report is available on the legislative auditor’s website. She noted a budget finding related to capital assets: a year‑end adjustment for retainage payables was not reflected in the final budget. She also said a small number of adjustments had to be posted, and that school finance staff had discussed implementation plans with the auditors to reduce such adjustments next year.

Committee members asked clarifying questions about the audit process and scope. Werner explained the auditor’s rotation practice for school‑level reviews and confirmed auditors review school funds within materiality thresholds and rotate which schools receive on‑site procedures.

The committee formally accepted the finance agenda and later accepted the minutes of the Jan. 6, 2025 finance committee meeting as written. No formal policy decisions or new budget appropriations were made at the Feb. 10 meeting; staff indicated they will implement procedural changes to address the audit findings.