Karen Jacks of Karen A. Jacks and Associates, P.C., told the board her firm offered an “unqualified. . .clean opinion” on the financial and compliance audit, adding “Your report could not have been better than that.”
“We did not have anything significant or unusual to call to your attention tonight, which is always good news,” Ms. Jacks said. Her firm proposed “a few adjustments” which “were not significant in amount,” and found no weaknesses in internal controls, she added.
Board President Jeff Rash asked Ms. Jacks if school Business Mgr. Beverly Grimes “gets an ‘A’ again,” and the accountant replied that she did.
Ms. Jacks said Gilmer ISD had a total fund balance of about $5.6 million at the school year’s end after adding about $605,000 to that. She told the board the district “outperformed your budget” as “revenues came in better than expected” and expenses were under budget.
The amount of outstanding uncollected property taxes has dropped, she said.
Ms. Jacks also noted the district has committed about $2.5 million of the $5.6 million for “potential future needs,” such as construction projects.
School Supt. Rick Albritton said the report was “overall, very good,” adding that the school had put away $600,000, which was $200,000 more than planned.
“We do feel like we have a good, valid budget to go forward on,” Albritton added, noting the school had cut $1.3 million from it (in the wake of a cutback in state aid.) But “it doesn’t mean we’re in great financial condition and can go out and do anything we want to,” he cautioned.