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DeSoto Parish School Board accepts unmodified audit, hears financial briefing
Summary
The DeSoto Parish School Board accepted an unmodified (clean) audit of the fiscal year ending June 30, 2023, heard that a recent bond issuance drove a roughly $45.6 million fund-balance increase, and was told of two audit findings tied to an accounting conversion.
The DeSoto Parish School Board accepted an unmodified audit opinion for the fiscal year ending June 30, 2023, after an auditor presented the district's financial results and two control findings.
Jenny Henry of accounting firm Allen Green told the board the auditing firm issued an "unmodified" (clean) opinion on the district's financial statements and said the statements are "materially correct." The audit presentation highlighted a substantial increase in fund balance driven largely by recent bond proceeds, changes in ad valorem revenue, and the district's OPEB estimates.
The audit matters: the presentation summarized that net position and unrestricted net position rose compared with the prior year and that the district recorded roughly $45.6 million in fund-balance growth tied to a bond issuance. Henry also noted the actuary's estimate of the district's OPEB (other postemployment benefits) obligation at about $133 million, with a net OPEB liability reported around $45.6 million. The auditor identified two findings related to a recent accounting conversion: late submission of records to the legislative auditor and incomplete bank reconciliations.
Henry said federal expenditures totaled about $14.5 million in the year reviewed, including roughly $8 million of ESSER (COVID-related) funds that are concluding; the finish of that federal support will reduce federal revenues going forward, she said.
Board action: A board member moved to accept the audit and the motion carried; the transcript records the vote as "motion carried" but does not include a roll-call tally.
Why it matters: The audit provides the district and the public with an external assurance of the district's financial statements and flags administrative areas—timeliness of reporting and bank reconciliations—staff will need to correct. The end of ESSER funds also signals a likely reduction in federal revenue in upcoming budgets.
What the board said: Jenny Henry summarized the overall opinion as unmodified and said the financial statements "are materially correct." The district will need to finish corrective steps on the audit findings; board members did not request further action beyond accepting the audit at this meeting.
The board carried the motion to accept the audit; no additional formal action (such as a directed corrective plan) was recorded in the transcript.
