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Van Alstyne ISD posts clean 2024–25 audit, reports $3.9M increase in net position
Summary
Auditor Morgan, Davis & Company gave Van Alstyne ISD an unmodified opinion for 2024–25; the district reported roughly $30M in General Fund revenue, a $1.59M net increase in the General Fund, and a Bond Construction Fund balance of about $58M.
Morgan, Davis & Company presented the Van Alstyne Independent School District’s 2024–25 annual financial audit to the Board of Trustees, concluding with an unmodified (clean) audit opinion and no reportable exceptions.
The audit reported a $3.9 million net increase in net position overall. The General Fund showed approximately $30 million in revenues and about $29 million in expenditures, a net increase of $1,589,085 and an ending General Fund balance of $12,322,771 — roughly 129 days of operating reserve. The Bond Construction Fund ending balance was reported at $57,968,780, the tax collection rate was 98.19 percent, and federal awards totaled $884,130 (above the $750,000 single-audit threshold).
Beau Williams moved to approve the 2024–25 Annual Financial Report as recommended by the superintendent; the board approved the motion 7–0. The audit also showed a Debt Service Fund decrease of $221,565. Board members did not request additional audit follow-ups during the open session vote.
