Finance update: Westonka reports fiscal-year snapshot, audit scheduled for August

Kevin (speaker 4), representing the business office, presented a fiscal-year-to-June-30 snapshot and an audit timeline to the board.

Kevin told the board revenue received and booked through June 30 totaled $49,790,000, which he said equals 92.9% of the budget. Expenditures through that date were $43,000,749, or 98.3% of budget. He cautioned that audit entries and receivables from federal and state sources still need posting and that figures will be refined over the next six weeks as bank statements are reconciled. He said the district’s auditor, identified in the transcript as Berg and KDB, will conduct the audit the week of Aug. 24 and that the audit will be presented at the board’s October meeting after finance committee preview.

Kevin also reminded the board that the long-term facility maintenance (LTFM) 10-year expenditure projection and statement of assurances are on the night’s agenda and underscored the annual approval requirement for districts to qualify for LTFM funding. He said the business office and finance committee will continue work on Title I and Title II applications and that staff will return next month with updated June 30 figures, adjusted for audit entries.

Numbers and next steps reported in the transcript must be treated as an interim snapshot; Kevin explicitly said additional audit entries and receivables remain to be posted before final FY figures are closed out.

What happens next: business-office staff will post audit entries and receivables, the audit will be executed the week of Aug. 24, and staff will return with audited/refreshed FY-2026 closeout figures and the audit presentation in October.