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CFISD audit: auditors plan unmodified opinion as board hears $27M deficit, FIRST rating A
Summary
Auditors told the Cypress‑Fairbanks ISD board they expect to issue an unmodified opinion on the 2024–25 financial statements while administrators described an $11.1M net deficit and a $27M shortfall in the general fund; the district also reported an A (Superior Achievement) on the 2023–24 FIRST accountability rating.
Auditors and district finance staff told the Cypress‑Fairbanks Independent School District board on Nov. 6 that the annual comprehensive financial report will carry the audit firm’s highest level of assurance.
“We will be rendering an unmodified opinion on the financial statements,” Greg Peterson, audit partner with Wever & Tidwell, said during the work session as he presented the draft report and the status of the federal single audit.
Peterson said the federal single-audit portion remains in draft because the Office of Management and Budget’s compliance supplement was delayed; once that final guidance is released the firm will finalize the single-audit report.
District presenters…
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