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Taylor ISD receives clean 2024 audit; general fund balance increases by $831,000, auditors say
Summary
Independent auditors issued an unmodified (clean) 2024 audit opinion and reported a general fund balance of about $16.73 million (roughly 48% of expenditures). Finance staff also reviewed six-week budget projections including an expected $400,000 property-audit reimbursement.
Singleton Clark and Company CPAs presented the district’s 2024 independent audit to trustees, reporting an unmodified audit opinion and no material weaknesses or significant deficiencies in internal control.
Elias Tristan, with Singleton Clark and Company CPAs, told trustees that the audit showed general-fund revenue of about $34.3 million and expenditures of about $34.9 million, producing an operational deficit near $619,000; other sources produced roughly $1.4 million of inflow, yielding a net increase in the general fund of $831,000 and an ending general fund balance of about $16.73 million, or approximately 48% of the year’s general-fund expenditures.
Earlier in the meeting finance presenter Jenna reviewed six-week budget projections as of Nov. 5 and said staff had included an expected $400,000 property-audit reimbursement from 2022 in projected revenue and updated revenue tied to a Samsung agreement. Jenna also noted projected changes in state funding and the expected surplus from the audit of $831,000 that will be reported in the year-end audit documents.
During the audit presentation, the auditor said the district’s debt service and capital projects were identified as other major funds and reported fund balances for those funds.
Trustees asked questions and thanked the presenters; the board did not take additional action on the audit at the meeting.
