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Auditors ask Fabens ISD board to table single-audit while federal guidance is finalized
Summary
Singleton Clark reported an unmodified opinion on financial statements but advised tabling single-audit approval because the OMB compliance supplement is not finalized; presentation also noted a material weakness in credit-card purchasing and a newly recognized compensated-absences liability of about $500,000.
At the Nov. 19 meeting, Nathan White of Singleton Clark presented the district's fiscal-year audit and described an unusual procedural constraint: the federal compliance supplement that guides single-audit procedures for districts expending more than $750,000 in federal awards has not been finalized.
"The compliance supplement...is not finalized yet," White said, adding that because the supplement dictates single-audit procedures he could not recommend the board certify the single audit tonight and advised tabling final approval until the federal supplement is issued. He described the issued auditor's opinion as unmodified and said the single-audit performed to date showed no question costs for Title I.
White also flagged areas of note: a material weakness related to credit‑card purchasing controls and the recognition, under new accounting guidance, of a compensated‑absences liability now reported at about $500,000 on government‑wide statements. He told the board the general fund decreased roughly $1.2 million and ends the year at $13,593,192, which still represents roughly six months of operating expenditures.
Finance director Lydia Nunez earlier summarized the district's Financial Integrity Rating System of Texas results and explained the indicator structure that produces the district's "superior achievement" rating.
Board members asked for follow-up documentation and for auditors and staff to provide the finalized supplement and any subsequent adjustments; administration and the auditor said they will return to the board once OMB issues the compliance supplement and the audit can be certified.
