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Southwest ISD staff report 2023–24 financials; fund balance within allowable range
Summary
District staff presented the PE's 2023–24 financial standards report, citing roughly $160.4 million in 2023–24 revenues, expenditures roughly in the high $160 millions, and a fund balance within allowable monthly thresholds. Staff invited questions from the board about the figures.
At the meeting, Mr. Scott Stevens presented the PE's financial standards report for fiscal year 2023–24, noting the report lags one year behind the TAPR. He summarized revenues, expenditures and disbursements for that period and said the district's fund balance was within allowable monthly fund balance requirements.
Stevens told trustees the revenues for the reported period were "160,384,559" and that expenditures and disbursements were reported in the same general range; he explained a timing difference related to a county appraisal district (BCAD) payment affects how disbursements are presented. Stevens said the fund balance at that time was within the district's allowable monthly fund balance threshold and invited board members to ask questions.
Why it matters: the financial standards report provides the board and public an audited or compiled look at the prior fiscal year's resources and expenditures and is a required part of public oversight.
Board follow-up: trustees asked clarifying questions and staff explained the one-year reporting lag for the PE report and the impact of the BCAD payment. Staff made no budget decisions during the presentation and recommended board members contact finance staff for further detail.
The board continued with other agenda items.
