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Mesquite ISD auditor issues unmodified opinion; board approves FY24–25 audit
Summary
An independent audit presented to the Mesquite ISD Board found an unmodified opinion with no material control or compliance findings. The board approved the FY24–25 audit after questions about state aid and a projected budget shortfall.
Auditors presented an independent review of Mesquite Independent School District's fiscal year 2024–25 financials and said they would issue an unmodified opinion, indicating the district's financial statements are reliable.
"We are issuing an unmodified opinion with no internal control findings related to financial reporting or findings related to compliance," the audit presenter stated during the board meeting. The auditors summarized key figures: total revenues of about $434,000,000, expenditures of about $449,000,000, an ending fund balance near $122,000,000 and total government‑wide assets around $1.5 billion, with roughly $726,000,000 in outstanding bonds.
The presentation also covered federal program testing and accounting changes. Auditors noted Mesquite ISD spent more than $750,000 in federal funds (about $62,000,000), triggering single-audit requirements and federal compliance testing (this year focusing on Title I and Title II). They explained a new GASB disclosure (compensated absences) that affects government‑wide statements and described the audit procedures used to confirm balances and liabilities.
Board members asked how changes in homestead exemptions and tax compression would affect state aid and the district's fund balance. Staff and auditors said reconciliation is ongoing and that the district is working to quantify impacts. One board member cited a projected budget shortfall of about $18,000,000 for the current year and asked how that would affect fund balance; administration said they are analyzing the effect.
After the presentation and questions, Mister Bingham moved, and Mister Everett seconded, a motion to approve the independent audit for FY24–25. The board approved the motion by voice vote.
What happens next: the district will finalize federal program reporting once the Office of Management and Budget's annual compliance supplement is released and will continue monitoring budget impacts related to state aid and tax changes.
