Bozeman board accepts FY23–24 comprehensive financial report after clean audit

The Bozeman School District Board of Trustees voted unanimously to accept the district’s FY23–24 Annual Comprehensive Financial Report and the accompanying audit after auditors issued an unmodified (clean) opinion.

Julia Wayman, the district’s accounting supervisor, told trustees the report reflects accounting changes including GASB implementations and highlighted key takeaways: an 8.4% revenue increase (about $9.3 million) driven by local tax levies and higher investment income; a 3.4% rise in expenses (about $3.7 million) attributable to inflation and staffing costs; a net pension liability of roughly $68.1 million; and total capital assets of about $332.8 million. Wayman said instruction remains the district’s largest functional expenditure and payroll accounts for roughly 59% of total district spending (89% of the general fund).

Janine Hathcock, audit partner with EideBailey, reviewed the firm’s opinion and the single‑audit results. Hathcock said the auditors issued an unmodified opinion on the financial statements and the IDEA cluster (special education federal funds), with no material weaknesses or findings to report.

Trustee Lucine moved to accept the superintendent’s recommendation to adopt the ACFR and audit report; the motion was seconded and carried 8–0.

Board members thanked the business office and auditors for the work. The district posted the full ACFR on its website and made hard copies available on request.

What happens next: The accepted report will be used for oversight by state and federal agencies, bond raters, and other stakeholders; trustees said they will continue to monitor budget and staffing needs during the upcoming fiscal cycle.