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Board certifies $138.5 million in fixed assets after $3 million increase tied to sports facility, outdoor classrooms and buses
Summary
The board approved the districts fixed assets certification for audit reporting, which shows a roughly $3 million increase from completion of a sports facility, outdoor classroom additions and bus purchases; ending fixed assets reported at $138,542,276 (as of 06/30/2024).
The Moriarty‑Edgewood School District board approved a fixed assets certification on Oct. 15 that the finance director said is needed for the districts annual audit.
Miss Young (finance director) told the board the districts fixed assets (items with value over $5,000) rose by about $3,000,000 in the 2023–24 school year, driven principally by completion of a sports facility, additions of outdoor classrooms at multiple sites, and purchases of one route bus and one activity bus. She said the deletions included auctioned equipment and traded‑in buses. The director reported an ending fixed asset balance of $138,542,276 as of June 30, 2024; the certification document will be signed and uploaded to auditors.
"Over the course of the 23‑24 school year, our fixed assets increased about $3,000,000," Miss Young said.
The board moved to approve the fixed assets certification (motion by Albert Chavez, seconded) and approved it by voice vote. The director told the board audit work is active and the full audit filing is due Nov. 15; staff said they are responding to auditor requests and will deliver materials on schedule.
The report also noted that certain bus upgrades (for example, added air conditioning) include components PED (the Public Education Department) does not reimburse, so the district sometimes trades in older buses to offset additional costs.
Next steps: the superintendent and finance director will sign the certification and staff will continue to provide requested documents to auditors ahead of the Nov. 15 deadline; no additional board action was required beyond the vote to certify the report.
