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Weaver audit gives Bryan ISD a clean opinion; trustees approve FY2024-25 annual financial report
Summary
External auditors issued an unmodified (clean) opinion for Bryan ISD's FY2024-25 financial statements, found no material weaknesses, and noted a $3.3M of budget-category overages and a $5M deficit in the group benefits fund; trustees unanimously approved the audit report.
Trustees on Nov. 12 approved Bryan Independent School District's FY2024-25 annual financial report after a presentation by Weaver audit representative Rebecca Darling.
Darling said the auditors issued an unmodified opinion — the cleanest possible — on the district's financial statements and found no material weaknesses or significant deficiencies. She said the single-audit portion covering federal grants remained in draft form only because federal guidance had been delayed by a federal shutdown, but auditors do not expect changes.
The presentation highlighted several figures trustees should note: approximately $3.3 million of functional expenditure categories exceeded the final general-fund budget for the year; the general fund balance decreased by about $12.3 million from the prior year; the government-wide statements recognized about $19 million in additional compensated-absences liability under recently implemented GASB guidance; and the district's group benefits (health-care) fund showed an approximate $5 million net position deficit, for which management described remediation plans including revised health offerings and contribution changes.
Darling said the district's general fund unassigned balance remained about $35.2 million, roughly 2.2 months of operating expenditures, a common liquidity benchmark. She also described the audit's scope and procedures, noting work on Title I and ESSER funding as major federal programs reviewed during the audit and that the district qualified as a low-risk auditee.
After the presentation the board moved to accept the audit and voted unanimously to approve the annual financial report.
The auditors recommended that the board and management monitor the functional spending categories and finalize remediation plans for the group benefits fund as part of the FY2025-26 planning cycle.
