Board accepts district audit after finance staff report no findings
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Summary
The board accepted the district's financial and compliance audit, which reported no findings; the audit shows a fund-balance decrease of $287,000 and a remaining fund balance of $8.8 million for FY 24–25, per the report presented at the meeting.
The McDowell County Schools Board voted unanimously to accept the district's financial audit after a presentation by finance staff.
Finance presenter Miss Rampey summarized the audit and the district's current fiscal position: "Our total budget as of now is a little over 84,000,000. We've spent a little over 43,000,000 with about 2.8 in encumbrances," she said, adding that the district's reduction of fund balance for fiscal year 24–25 was $287,000 leaving a fund balance of $8,800,000. She said both the financial audit and the compliance (federal programs) section showed no findings.
Rampey explained the audit timeline changes and noted Local Government Commission approval on Feb. 3. A motion by the finance committee chair (Mr. Schubert), seconded by Mr. Baker, moved to accept the report; the board approved the motion by raised hands with eight votes in favor.
Board members praised the finance team: the presenter was recognized for the district's twentieth consecutive year with an audit showing no findings. No policy changes or material adjustments to the budget were enacted during the meeting; staff said the audit documents are available on the district's financial transparency page.