Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Pine Bluff School District gets clean audit; board accepts financial report and hears bond/project cost update
Summary
Jamie Reed told the board the FY2025 legislative audit returned an unmodified (clean) opinion with no findings; the board accepted the financial report. The board heard that $11.5 million remains in bond funds and the project's construction cost to date is $58 million (project estimate up to $78 million including architect/contingency).
The Pine Bluff School District received a clean legislative audit for fiscal year 202425: Director of Finance Jamie Reed told the board the auditors issued an unmodified opinion and noted no material weaknesses, significant deficiencies or federal-program findings.
During the finance presentation the superintendent and finance staff reviewed monthly revenue and fund balances. Local tax collections for February were reported at about $182,000 and year-to-date figures for local taxes were discussed in the board packet. Reed said the district has about $11,500,000 remaining in the current bond issue for the fiscal year; project accounting showed $58,000,000 in construction expenditures to date with a total project estimate of $73,000,000 for construction and up to $78,000,000 when architect fees and contingencies are included.
The finance director explained a bank reconciliation variance that appeared in the packet was a timing/rollover issue and had been cleared; the board accepted the financial report after a motion and voice vote. Board members praised the districtfor fiscal oversight and noted that a clean audit supports public trust and future grant and bond work.
The board later moved and approved adoption of the legislative audit as presented and recorded that action as part of new business.
