Auditors give Arlington ISD unmodified opinion; trustees approve 2024–25 comprehensive financial report

Arlington ISD’s independent auditors, Whitley Penn, presented the 2024–25 annual comprehensive financial report and issued an unmodified opinion on the district’s financial statements at the Nov. 20 board meeting.

Audit manager Lauren Eden told trustees the firm performed risk-based procedures (IT controls, PEIMS, payroll and federal program testing) and found no material weaknesses. She said the government-wide combined statements show approximately $805 million in cash and investments and $1.3 billion in net capital assets; liabilities and deferred inflows total roughly $2.1 billion, leaving an ending net position of about $274 million.

On the general fund (operating fund), auditors reported $591 million in revenue and $634 million in expenditures with a board-approved transfer that restored fund balance to $270 million (close to last year), representing approximately 175 days of operations — well above standard 90-day guidance. The auditor also noted implementation of GASB 101 (compensated absences) affected this year’s statements and that the single-audit portion (federal awards schedule) remains preliminarily unmodified pending the Office of Management and Budget’s compliance supplement release.

After the presentation trustees moved and unanimously approved the ACFR.

Board members thanked internal audit and finance staff and the external auditors for timely work and asked for the single-audit finalization when the OMB releases the compliance supplement.