Independent auditor gives Waco ISD a clean opinion; no material weaknesses found

WACO — The independent auditors from Weaver LLP told the Waco ISD Board of Trustees on Jan. 20 that the district’s fiscal 2024 financial statements received an unmodified (clean) opinion and that the single audit of federal programs likewise had no findings.

Audit partner John DeBurrow briefed trustees on the audit process and findings. He said the audit included interim fieldwork, tests of internal controls, federal‑program testing (Title I and the Child Nutrition cluster), bid and procurement testing for capital projects, and reviews of payroll and cash disbursements. He reported no material weaknesses or significant deficiencies in internal controls and no material noncompliance discovered during audit procedures.

DeBurrow also summarized financial highlights: governmental revenues of approximately $249.8 million (a year‑over‑year increase of about $1.2 million), a $2.79 million increase in construction spending linked to ongoing capital projects, and a general‑fund unassigned fund balance of about $6.09 million (39.3% of general fund expenditures). Auditors noted a favorable budget variance for the general fund of $1.67 million.

Trustees asked clarifying questions about budgeted deficits and the effect of timing on fund balances; district finance staff explained that bond proceeds issued in prior years fund capital projects and that construction timing caused fund balance fluctuations. Trustees also discussed the winding down of ESSER federal funds and how that affects spending plans going forward.

Weaver’s presentation and the enclosed audit letter were accepted by the board as part of the meeting record.