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Weslaco ISD reports $65 million fund balance, $22 million in nonbond projects
Summary
Superintendent Dr. Richard Rivera told trustees the district has roughly $65 million in fund balance and approximately $22 million available for projects funded from savings; trustees were briefed on completed and planned capital work and bond-phase timelines.
Weslaco Independent School District Superintendent Dr. Richard Rivera told the board the district's audit shows a current fund balance of about $65,000,000 and outlined roughly $22,000,000 in projects funded from savings rather than bond or fund-balance reserves.
"The audit revealed that we have $65,000,000," Rivera said, noting a three-month reserve requirement of about $43,000,000 and that roughly $22,000,000 would remain for projects after the reserve. He listed completed and in-progress projects paid from savings, including LED stadium lighting, stadium scoreboard and HVAC upgrades, new activity buses and playground equipment.
Rivera said the projects funded from savings are separate from the voter-approved bond program, and the district will bring final approvals for planned items to the board. On the bond program, he reviewed phase 1 projects (stadium turf, band towers, baseball/softball fields, track and roofing work) and described phase 2 as still in planning, with architects and engineers to be selected.
Board members thanked staff for the financial stewardship and asked for follow-up details about project timelines and the precise balance after upcoming planned expenditures. The board voted later in the meeting to approve the annual comprehensive financial report and related consent items that include project-related authorizations.
