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District reports August shortfall; board hires auditor for FY25
Summary
The August monthly report showed revenue of $3,734,809 versus expenditures of $4,360,020 (a $625,211 monthly shortfall); board accepted the report and approved an $8,000 engagement with Dr. Carolyn Dupree to compile FY25 audit financial statements.
Vilia Knight (Speaker 8) presented the district’s monthly financial report for August 2025: revenue for fund 1120 was $3,734,809 and expenditures were $4,360,020, leaving expenditures exceeding revenue by $625,211 for the month. The district’s fund balance for August was reported at $31,535,292, approximately $1,871,492 more than the same month last year, and the maintenance fund balance percentage was 45.57%.
Trustees asked clarifying questions about emergency repairs appearing on the claims docket and maintenance needs; staff explained two emergency plumbing repairs (including one for Warrenton at about $18,007.50) and described corrective steps taken. After discussion, Speaker 3 moved to accept the financial statement; the board approved the financial report by voice vote.
Under audit business, the board considered a contractual engagement with Dr. Carolyn Dupree to compile financial statements for the FY25 audit; the estimated fee presented in the meeting was $8,000. Speaker 3 moved to approve the engagement and the motion passed by voice vote. Trustees noted the audit team will begin fieldwork in November and the district aims to complete audit steps earlier than in prior years.
Next step: the district will proceed with the audit engagement and continue tracking monthly financial trends; trustees asked staff to provide additional backup for claims showing emergency expenditures.
