Gatesville ISD accepts FY25 audit; auditors flag small child-nutrition overspend and GASB restatement

Gatesville ISD trustees voted to accept the district's FY25 audit after a presentation from Nathan White, a partner at Singleton Clark. White said auditors issued an unmodified opinion and found no material weaknesses or significant deficiencies. He identified a $93,000 overspend in the Child Nutrition fund as a relatively common, manageable budget finding and explained that a new Governmental Accounting Standards Board (GASB) standard required restating compensated-absences balances.

White said the district's beginning compensated-absences balance was restated (reported in the presentation as approximately $1,085,663) and that the district added roughly $239,000 during the year to end that liability near $1,325,000. The auditor also reported a $543,697 reduction in the general fund during FY25 but noted an ending fund balance of $15,288,639, which he described as roughly six months of operating expenditures and a healthy position for the district.

Following the presentation, a board member moved and the board voted unanimously to accept the audit and to authorize signatures on the state-upload certificate required by the Texas Education Agency. The auditor said the single-audit threshold would continue to apply as federal funding levels change and encouraged continued controls to prevent recurring overspend.

The board did not identify additional follow-up items beyond the usual implementation of corrective measures related to the Child Nutrition appropriation. The motion to accept the audit was recorded as passed by voice vote.