Waxahachie ISD receives clean audit for FY2025; capital additions and bond proceeds highlighted
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Summary
Independent auditors issued an unmodified (clean) opinion for the fiscal year ending Aug. 31, 2025, noting a GASB‑driven accounting change for compensated absences, about $115 million in capital additions and roughly $142–148 million in bond proceeds; trustees approved the audit 7–0.
Hankins Esop auditors presented Waxahachie ISD’s fiscal‑year audit for the period ending Aug. 31, 2025, and trustees approved the report after a presentation summarizing key financials.
Juan Santana of Hankins Esop said the auditor’s opinion was unmodified (a "clean" opinion) though the report included an "Emphasis of Matter" related to a GASB pronouncement changing accounting for compensated absences; that change required an adjustment to beginning net position but did not modify the auditors’ opinion.
The auditors reported approximately $115,000,000 in capital additions during the fiscal year versus roughly $10,000,000 in depreciation. Long‑term liabilities rose by about $84,000,000 primarily because of new bond proceeds (the presentation referenced roughly $142–148 million in issuances and roughly $43,000,000 in retired/refunded debt). Total revenues increased by about $19,000,000, largely attributed to an increase in investment earnings tied to bond issuances. Auditors reported no findings for federal major programs and said they received full cooperation from management.
The board moved to approve the fiscal‑year audit as presented; the motion carried 7–0.
