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Auditors present draft with clean opinion; isolated procurement and time-and-effort findings noted
Summary
External auditors told trustees the district's draft financial statements carry an unmodified (clean) opinion but include isolated findings: two vehicle purchases lacked required bids (~$113,000) and time-and-effort documentation issues in federal programs (Head Start and child nutrition). Corrective actions and training were described.
Representatives from BSGM presented a draft single-audit with an unmodified opinion on Lubbock ISD's basic financial statements, while noting a small number of isolated compliance findings and adjusting journal entries.
"We have an independent auditors report ... there's an unmodified clean opinion on the basic financial statements and the notes of financial statements," audit presenter Trey Rowe said, adding the presentation was a working draft pending issuance of the federal single-audit compliance supplement.
Rowe and Dr. Wilkins described two specific findings: procurement compliance for two vehicle purchases that did not follow the board's bidding process (reported in the presentation at about $113,000) and time-and-effort documentation issues tied to federal programs (Head Start and child nutrition). Rowe said the district had already begun corrective actions, including training and updated procedures, and that the findings appeared isolated with no questioned costs identified.
The presentation included financial highlights (a reported general-fund increase tied to a lighting project and associated financing) and a reduction in adjusting journal entries from 31 the prior year to 22 this year. Trustees asked clarifying questions; the auditors said they would request final representation letters and issue a clean final copy once the compliance supplement was available.
