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Castleberry ISD auditors issue clean opinion on 2024-25 financials
Summary
Hagenes Eastup presented an unmodified (clean) audit for the fiscal year ended June 30, 2025, reporting a $7.0 million swing in net fund balance tied partly to new bond issuance and a GASB accounting change that required a $1.7M prior-year restatement.
The Castleberry Independent School District board received a presentation of the 2024-25 annual financial audit and voted to approve the report.
Damon Cooper of Hagenes Eastup told trustees the firm issued an unmodified opinion and found no material weaknesses in the district's financial statements. "In our opinion, the financial statements referred to above present fairly in all material respects," Cooper said. He noted a GASB accounting change effective Dec. 15, 2023 required the district to disclose a liability for carryforward compensated absences and resulted in a prior-year net position restatement of about $1.7 million.
Cooper highlighted a roughly $7.0 million swing in net fund position year over year, driven in part by new bond issuances that increased capital-project fund balances. He also told the board the single-audit upload to the Texas Education Agency is delayed because TEA is upgrading its audit application and awaiting the OMB compliance supplement; the audit package is otherwise complete and the district may sign the report later for submission. The board approved the audit by a recorded vote of 4-0.
The auditor said he would notify district staff if any post-submission changes are required; trustees asked clarifying questions about the swing in fund balance and the timing for signatures and upload. The board's approval means the district will complete the remaining procedural steps for TEA submission when the state's system allows.
