Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Audit topic
No spam. Unsubscribe anytime.
Taylor ISD finance presentation: projected revenue changes, $831,000 audit surplus and fund-balance strength
Summary
Finance staff reported updated revenue projections including a possible $400,000 property-audit recovery and higher Samsung agreement revenue; independent auditors issued an unmodified opinion and the audit yielded an $831,000 positive change to the general fund balance (approx. $16.73M, ~48% of expenditures).
Taylor ISD's finance staff told the Board of Trustees that updated revenue projections and a clean external audit position the district with stronger reserves, though certain line items remain subject to change.
Jenna, presenting the November projections, said the district expects roughly $400,000 from a 2022 property-audit recovery and noted higher-than-expected revenue tied to the Samsung agreement for supplemental pay. She summarized how revenue columns reflect different scenarios and said one projected column shows a modest deficit while another scenario improves when certain temporary items (disaster pennies) are excluded.
Elias Tristan of Singleton Clark & Company, the district's independent auditors, told trustees the audit report issued was "unmodified," meaning no modifications were required to the standard report language. Tristan summarized key audit figures: general fund revenue of about $34.3 million, expenditures of about $34.9 million (a $619,000 operating deficit before other sources), and after other sources a net increase in the general fund of $831,000, leaving a fund balance of approximately $16.73 million (about 48% of general fund expenditures, or roughly 5.5 months of reserves).
Jenna also highlighted bond-related contingency tracking (about $2.1—$2.2 million) and about $12 million in uncommitted bond funds that could be repurposed as projects close out. Trustees asked clarifying questions but took no additional formal action on the audit at the meeting.
The audit packet and financial reports will remain part of the board's public records and staff said they will continue quarterly budget reviews to manage expenditures and maintain reserves.
