Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Enterprise City Schools audit returns unqualified opinion; board notes strong fund balance and capital spending
Summary
Carr, Riggs & Ingram presented an unqualified (clean) opinion on Enterprise City Schools' fiscal 2025 financial statements, noting about seven months of operating reserves, roughly $21 million in capital investment last year and a roughly $16 million bond issuance; the single-audit tests cited no findings for special education and Title I.
An independent audit of Enterprise City Schools' 2025 financial statements drew praise from trustees on April 28 after auditors issued an unqualified opinion and reported no findings in federally funded programs.
"My name's Tyler Dunaway. I was the partner in charge of the financial statement audit for the Enterprise City School System for the 30th 2025," said Tyler Dunaway of accounting firm Carr, Riggs & Ingram as he walked the board through the district's financial statements. Dunaway told trustees the auditor's report was issued March 30, 2026, and that the firm concluded the statements were materially correct.
Dunaway highlighted several metrics trustees said they track: the general fund balance, which Dunaway said represents about seven months of operating expenses (near or above best-practice targets); capital investment of "a little under $21 million" in fiscal 2025; and a bond issuance of "about $16 million" that increased long-term debt but left Enterprise with relatively low leverage compared with other districts. He also described the government-wide statements and pension liabilities as background information for long-range planning.
On the district's federal awards, Dunaway said the auditors tested the special education cluster and Title I programs as required under the single-audit rules and found "no findings," a result he characterized as a positive indicator for internal controls and grant compliance.
Board members and administrators responded positively to the presentation. One trustee thanked Dunaway and his team for a smooth audit, saying the district's cooperation made the process easier. Dr. Thomas noted his appreciation for the unqualified opinion and the absence of audit findings as an important confirmation of the district's financial processes.
The audit presentation also included notes for trustees to consider in budgeting: while broad pension liabilities fluctuate with markets and are long-term obligations, the board should focus on next-year retirement contribution requirements in the budgeting process. Dunaway recommended trustees and staff review the fund statements together when considering restricted versus discretionary balances.
Next steps: Dunaway finished by asking whether board members had questions; none were raised that altered the opinion or findings. The board later carried routine financial items on the consent agenda, including approval of the February 2026 financial reports and the March 31 meeting minutes.
