The Goodrich ISD board heard an audit report and maintenance updates last week in their monthly regular meeting for October.
Eric Carver of Axley and Rode gave an audit report on Goodrich ISD, saying the district is in good financial shape and very healthy.
“You all have a good, solid fund balance. We are giving you a clean, unmodified opinion. There are no material issues and no problems,” Carver said.
This year, the district’s total assets were over $9.2 million. It is a $1.1 million increase from the year prior, with most being cash.
“What you have seen in the last several years with the ESSER grants, you have received this federal money in several stages now,” Carver said. “You have been able to replace expenditures you would normally have in the general fund with some of this ESSER funding. It has allowed the general fund to build up a higher cash fund balance reserve.”
Liabilities were down $130,000, which Carver said was routine with what the school district is paying on their bond. Overall, the school’s position increased about $1.2 million, which he called a “very healthy position.”
Revenues were up $276,000, and that is a $500,000 increase from two years ago. Additional funding has been received in child nutrition, Covid, and security grants. Expenditures were down around $114,000.
Carver warned that an impending legislative session, increased costs across the board and covid funds drying up would likely mean additional expenses for all school districts.
The school district has about $4.7 million in general fund assets, with around $4.3 million of that in cash investments. The report reflected that the amount was good for operating reserves that can be accessed anytime.
Around $2.1 million have been set aside for future capital projects, which is about 75% of annual operations. There are also about $2.1 million in unassigned money.
Revenues for the past year were around $86,000 below what was expected, however, expenditures were around $600,000 below what was anticipated.
A waiver must be granted from the Texas Education Agency for any class size ratio above 22 students to one teacher. Goodrich ISD has filed waivers for kindergarten, second grade and fourth grade. Currently, there are 23 students in kindergarten, 26 in second grade and 23 in fourth grade. A few students have transferred from Goodrich and kindergarten is now down to 22 students. In fourth grade, there are also 22. Regardless of numbers, once filed, the waivers are good throughout the year.
All windows at Goodrich ISD have now been installed and all entrances and exits are labeled for safety.
In action items, the board approved new hires of a custodian and paraprofessional.