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Auditor urges tabling single‑audit approval; district reports solid reserves and new compensated‑absences liability
Summary
Singleton Clark presented Fabens ISD’s FY25 financial report; the auditor recommended tabling approval of the single audit because the OMB compliance supplement was not finalized. The auditor reported an unmodified opinion on financial statements, a ~ $500,000 government‑wide liability for compensated absences, and a general fund balance of $13.59 million (about 6.5 months of operating expenditures).
Nathan White, a partner at Singleton Clark, reviewed Fabens ISD’s fiscal‑year financial compliance report and explained a federal timing issue that prevents final board approval of the district’s single audit tonight.
White said the district meets the single‑audit threshold when it receives and expends more than $750,000 in federal awards. He explained that the Office of Management and Budget’s compliance supplement — which guides single‑audit procedures — had not…
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