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Auditor: Anderson One posts stronger fund balance, flags two procurement issues in federal program review
Summary
The district received an unmodified audit opinion and a general fund balance increase to about $35.2 million; the auditor noted a material weakness in procurements tied to a federal program review and outlined capital and debt figures.
External auditors delivered the annual financial overview and reported an unmodified opinion on the district’s financial statements. The auditor told trustees the general fund balance increased by roughly $5 million to about $35.2 million, representing close to three months of expenditures — a level officials described as healthy.
Key figures presented included approximately $99.5 million in revenues (about $30 million from property taxes), an increase in state revenue of roughly $6 million from the prior year, and total expenditures approaching $106 million, largely driven by instruction and higher salaries and benefits. The auditor reported capital assets of roughly $250 million and outstanding debt at about $164 million.
The single-audit review of federal programs identified a material weakness related to two procurements that did not meet current procurement-code requirements under a federal program test; auditors said the issue related to a change in exemptions and timing and expected the district to resolve the matter going forward. The audit contained no material weaknesses in the financial-statement opinion and the auditor praised district finance staff for completing the audit despite hurricane-related disruptions.
Board members asked questions about fund balance composition, capital-project commitments (noted at approximately $44 million in construction commitments), and the timing of transfers and reimbursements. The auditor and finance staff said they would provide additional backup documentation as requested.
