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CES95 accepts FY25 audit with no findings; district reports $13.5M reserves and projects near completion on construction
Summary
The board approved the FY25 audit (zero findings) and a resolution to abate tax levies on the Series 2021 bond; staff reported cash reserves of $13.5 million and construction nearing completion at Parrish and CMS and renovation of administrative offices at 216 E. Main.
Chief School Business Official Janiece Blake presented the FY25 audit and financial updates and the board approved the audit and related actions.
Blake said the district’s annual audit (completed by Fick, Eggemeyer & Williamson) included zero findings this year and the district maintained a financial profile score of 4.0, the highest recognition level. Blake also reported that the district’s cash reserves total $13.5 million and stated that the district is not subject to filing an operational funds reserve reduction plan; the minutes record a calculation noting 2.5 times average annual expenditures at $80,962,793.
On facilities, Blake said work at Parrish and at Carbondale Middle School is progressing with drywall, paint and ceiling grids installed and remaining work to finish ceilings, install flooring and doors and complete touch-ups; renovation of the administrative office at 216 E. Main is underway with occupancy hoped for in spring. The board approved a resolution to abate taxes levied for debt service on the Taxable General Obligation School Bonds (Alternate Revenue Source), Series 2021; the minutes note that the Series 2021 bond payment is set to mature Nov. 1, 2026 and the district expects to hold no debt once final payments are made. The audit report and the abatement resolution were each approved by roll call vote with yes votes from the six members present.
