Irving ISD financial record-keeping is in excellent shape. That’s the from the latest audit conducted by Weaver, an outside accounting firm.
At the January board workshop, the Board of Trustees received the annual report of the district’s financial audit. Trustees received word that the district received the highest rating on the latest audit, the Comprehensive Annual Financial Report (CAFR). The district received an unmodified opinion on the financial statements, and no material weaknesses in internal control were reported.
“We have issued an unmodified opinion over the financial statements,” says Claire Wootton, audit senior manager from Weaver. “An unmodified opinion is the cleanest opinion you can get”.
District total expenditures were reported at approximately $436 million. The report, which covers the fiscal year ending August 31, 2019, reflects sound financial management by the district’s business services department. Some of the highlights include:
- Revenue exceeded expenditures in the general fund
- Decreasing outstanding bond debt by 7 percent
- No negative variances of revenues, expenditures and fund balance changes in the general, food service and debt service funds, all established by the board.
For governmental funds, approximately 42 percent of revenue was from the state, 47 percent from local sources, and 11 percent from the federal government.
“We pride ourselves in being good stewards of taxpayer dollars,” says Gary Micinski, chief financial officer for Irving ISD. “The latest audit is a testament to that and to the hard work of the folks in our business services, tax, and purchasing departments.”