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Weaver & Tidwell issues clean audit for CSISD; board approves 2024 annual financial and compliance report
Summary
Auditor Weaver & Tidwell delivered an unmodified (clean) opinion on College Station ISD's financial statements for fiscal year ending Aug. 31, 2024, and found no reportable findings in the federal-major-program audit. The board approved the annual financial report 6-0.
Rebecca Darling, partner with Weaver & Tidwell, presented the fiscal year 2024 annual financial report (AFR) and audit results to the College Station ISD board on Dec. 17. The auditors issued an unmodified (clean) opinion on the district’s financial statements and a clean opinion on compliance for the federal major programs audited this year, which included the special education cluster and Title I improving basic programs.
Key figures Darling highlighted: general fund revenues of about $151.9 million and expenditures of about $149.7 million, producing an increase in general-fund balance of approximately $4.7 million. The district’s unassigned general-fund balance was about 26% of revenues (roughly three months of operating funds), a level Darling noted is within common practice. The capital projects fund shows issuance of bonds of $94.4 million in FY2024.
Darling said there were no material misstatements or internal-control findings and no compliance findings for the federal programs included in this cycle. The auditors perform an additional opinion on federal awards and reported no findings for the schedule of expenditures of federal awards related to special education and Title I in the audit cycle. Weaver & Tidwell also confirmed independence and completion of required governance communications with the audit committee.
After the presentation, Trustee Ben moved to approve the annual financial and compliance report for the fiscal year ending Aug. 31, 2024; Trustee Simmon seconded. The motion passed 6-0.
What this means: A clean audit gives the board and community assurance that fiscal records were presented fairly and that the district complied with major federal program requirements examined in this audit cycle. Board members thanked auditors and district finance staff for preparing the AFR.
Materials: Weaver & Tidwell provided the AFR and a short auditor communication letter to the board; Darling referred trustees to specific AFR pages for details on fund statements and disclosures.
