Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Acfr topic
No spam. Unsubscribe anytime.
Spring ISD board approves annual comprehensive financial report for fiscal year 2025
Summary
The Spring ISD Board of Trustees unanimously approved the district's annual comprehensive financial report for the year ended June 30, 2025, after auditors said they planned to issue an unmodified opinion pending routine federal compliance supplement timing.
Spring Independent School District trustees voted unanimously Nov. 11 to accept the district's annual comprehensive financial report for the year ended June 30, 2025.
Deputy Superintendent of Business Services Anne Westbrooks and external auditors walked the board through the report and the audit process. Audit partner Selena Saraceras told trustees the engagement earned an "unmodified opinion" based on the work completed but said formal release of certain federal compliance attachments is delayed by the Office of Management and Budget and procedures at the Texas Education Agency. "We plan to issue an unmodified opinion and then you can ratify that at a later board meeting," Saraceras said during the presentation.
Westbrooks reviewed key figures from the financial statements, including government-wide assets of about $1.3 billion, total liabilities near $1.2 billion and a reported net position of $110.7 million. On the fund level, the general fund reported $341.6 million in revenues and $338.4 million in expenditures, producing a roughly $3.1 million net surplus for the year. She also reported a medical plan deficit of about $11.5 million and discussed capital projects and a $500,000 board commitment to strategic compensation (of which approximately $399,400 had been paid out).
Trustee McDaniel moved the motion to accept the ACFR and the independent auditors'report; Trustee Correa seconded. President Durant called the vote and announced the motion carried unanimously.
The board asked staff to continue monitoring areas the auditors highlighted and to return to the board if the final federal compliance materials change the audit opinion. Westbrooks said the district will submit required reports to regulators and, if anything changes in the final federal materials, the auditor will return to the board.
The approval lets the district move forward with its financial disclosures and statutory filings while staff and auditors complete final compliance steps.
