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Pasadena ISD accepts clean fiscal 2024 audit; district reports higher capital spending
Summary
Auditors gave Pasadena ISD an unmodified opinion on its 2024 financial statements and a clean internal control report. The district reported a $32.8 million increase in capital assets tied to bond spending and a slight $2 million draw on the general fund.
Auditors presented Pasadena ISD’s fiscal-year-2024 results and the board approved the annual comprehensive financial report on Jan. 24, 2025.
Whitley Penn partner Patrick Simmons told trustees the firm was issuing an unmodified (clean) opinion on the district’s financial statements and found no reportable internal-control deficiencies or instances of material noncompliance. “Overall, clean audit — all the great news,” Simmons said, noting that federal single-audit testing included Child Nutrition programs.
The audit presentation highlighted a $32.8 million increase in net capital assets, which auditors said reflected district bond spending on capital projects. Simmons said state aid rose to roughly 60% of general-fund revenue while property-tax share declined to about 27%, and that expenditures increased year-over-year by roughly $4 million. General-fund expenditures exceeded revenues by about $2 million, producing a modest decrease in fund balance; the district’s ending fund balance remained near policy targets.
Board members praised finance staff for a smooth close and expressed appreciation for the cross-departmental work the audit required. By motion of Miss Sullivan, seconded by Mr. Fernandez, the board approved the comprehensive financial report.
The board will receive the auditors’ full written reports and a separate letter with required communications; trustees were told the district agreed to post routine closing adjustments identified by auditors.
What’s next: The district will publish the auditor’s report and continue monthly financial oversight; no additional board action was scheduled beyond routine follow-up on recommended closing procedures.
