Solanco SD board accepts clean audit, commits $6.5 million for facilities and security

The Solanco SD Board on Dec. 15 accepted an unmodified audit opinion for the district's 2024–25 annual comprehensive financial report and approved a resolution to commit portions of the fund balance for capital projects, debt service and security enhancements.

"We issued an unmodified or clean audit opinion on that report," Steve, the engagement manager from Barbican Thornton and Company, told trustees, adding the auditors found no significant deficiencies or material weaknesses in internal control. The audit team also reported that the district received roughly $9,000,000 in federal awards this year and that Title I and child nutrition clusters were tested with unmodified opinions.

Miss Tucker, presenting financial reports, said the general fund increased by approximately $3,000,000 year‑over‑year, driven by higher state and local tax revenue offsetting decreases in federal ESSER funding. The district will transfer portions of the general fund to other funds, including about $6.5 million for capital projects and about $3.3 million to debt service, the auditors said.

On a related motion, the board approved a resolution committing specific balances for future needs: $3,500,000 for facility repair and improvement, $1,000,000 for supplemental debt service, and $2,000,000 for facility and technology security enhancements. The board also approved an assignment of $1,468,949 to cover a budgeted deficit if revenues and expenses do not align by the end of the fiscal year.

Board members asked staff about the timing and mechanics of the commitments and were told committed funds remain available for spending in the next fiscal year and are used as part of the budgeting process. Trustees approved the audit and the fund‑balance resolution on voice votes.

Next steps: auditors said a draft of the final report would be issued soon, with the final report expected in early January.