Pearland Independent School District received a perfect audit for the fiscal year ending June 30 according to reports reviewed by trustees at a board meeting held Tuesday (Nov. 12).
Auditors examined the district's fund balances and accounting activities and confirmed all financial information had been prepared and presented fairly and accurately over the year. The report also showed auditors awarded the district and its Chief Financial Officer Don Marshall an unqualified opinion which is the highest opinion given to audited financial statements.
Jason Tracy from the firm of Kennemer, Masters and Lunsford, LLC, went over details of the audit report for the tenmonth period ending June 30. (Trustees voted to change the end of the fiscal year from August 31 to June 31 last year, which resulted in a ten-month report.)
According to audit documents posted on the district website, overall expenditures including debt service, general fund and other governmental funds totaled $164,950,908. General fund expenditures totaled $117,999,536.
Of the total, $67,168,041 was used to cover teacher salaries and instruction costs. Campus leadership expenditures such as salaries for principals totaled $7,763,855 and administrative salaries and costs totaled $2,781,871 for the ten-month period. Campus security and monitoring services expenditures equaled $1,418,875 and student transportation costs came to $5,434,623.
After the original budget was finalized, trustees later voted to approve additional expenditures of $11,886,284.
Of that amount, roughly $3 million was spent for renovations and equipment for Turner High School, the district's flagship program focused on career and technical training courses offered in partnership with Alvin Community College and San Jacinto College. Enrollment counts show 700 students were enrolled when the school opened last fall.
Trustees also signed off on roughly $3.6 million for computer system upgrades including district-wide Wi-Fi, $3.7 million for a new school bus satellite station, $1.3 million to install new artificial turf at Pearland and Dawson High School athletic fields and $275,000 for security system upgrades at all campuses.
Audit documents show general fund revenues totaled $126,066,257. Of that amount, state funding contributed $65,886,326, property taxes and local funding equaled $59,655,076 and federal programs and grants added $524,855 to the general fund balance.
Of the District's overall governmental funds, the combined ending fund balances equaled $59,792,764. The total general fund balance at the end of the reporting period was $44,316,819 and the unassigned portion totaled $22,099,193.
"That's your reserve; that's what the district can spend," Tracy told trustees. "That's really good to have, especially down here on the coast where we always talk about hurricanes. That's a real strong number for the district."
The general fund balance increased this year by $ 4,349,121.
Audit reports state the district gained roughly $185 per student in state funding and is expected to gain another $90 per student next year due to changes and adjustments made by state lawmakers last session.
The property tax rate assessed to cover general fund operations was $1.04 and $0.3794 was assessed to pay general obligation long-term debt for a total of $1.4194 per $100 valuation.
According to audit documents, the tax levy for the 2012-13 fiscal year was calculated based on the August 1, 2012 assessed value of the property tax roll of $5,300,745,597.
For detailed audit report information, visit www.pearlandisd.org/files/filesystem/Audit_97000-2013.pdf.pdf[1]
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