- Wichita Falls ISD
WFISD Financial Report Earns 'Clean' Opinion from Audit Firm
WFISD Financial Report Earns ‘Clean’ Opinion from Audit Firm
Board members discuss capital improvements
In the Nov. 12, 2019 special session, Jackie Wheat presents district goals and objectives to board members in a special report.
Board members learned in a Tuesday noon work session that the District’s audited financial report for the fiscal year that ended June 30, 2019, showed no material weaknesses, no significant deficiencies and was regarded as “clean” by the Weaver and Tidwell audit team.
Weaver and Tidwell CPA Sara Dempsey said the audit was “very positive” and required no follow-ups.
This year’s audit focused on two specific District programs: The Child Nutrition cluster and Special Education. Again, no material weaknesses or significant deficiencies were found in either program, she said.
Even the District’s year-end change went smoothly, she noted. WFISD changed its fiscal year-end from August 30 to June 30 to sync more efficiently with the needs of teachers and principals.
Board members approved the audit report from Weaver and Tidwell in a 7-0 vote.
Fund Balance Rises by $7.1 million
By ending the fiscal year in June this year instead of August, the District set itself up for a “year” with only 10 months of expenditures instead of 12, creating a one-time bonus of $7.1 million that went directly to the Fund Balance.
WFISD now has $30 million in its Fund Balance, with enough money to cover three full months of operating expenses in case of an emergency. It costs about $9 million monthly to operate WFISD, so a three-month reserve of $27 million is considered very healthy, said Superintendent Mike Kuhrt.
Traditionally, WFISD board members have preferred to hover around a $20 million reserve.
In light of the new $7.1 million available this year, Mr. Kuhrt presented board members with a list of possible improvements to the District and a question: How much of the $7.1 million might you want to spend to take care of some of these needs? All of it? None of it? Half of it?
“We’ve spent fund balance several times over the last five years,” said Mr. Kuhrt. “Do you want to do it again? Do you want us to come up with a priority list to spend the fund balance on? Or do nothing?”
Board President Elizabeth Yeager said she would be happy to use the $7 million as a target number for spending. “I’m happy to see a prioritized list for further discussion,” she said.
Board member Dale Harvey agreed and urged the inclusion of long-time needs in the agriculture program. “It’s there for us to use to help the District,” he said of the $7.1 million.
Board member Katherine McGregor suggested spending $5 million and setting aside $2 million for the inevitable surprise expenses that pop up throughout the year and draw from the fund balance. “We could target the top $5 million, then work into the year and see the next $2 million,” she said.
In a 7-0 vote, board members approved the resale bid of a parcel located at 710 N. Broadway Street. This is excess real property acquired from a delinquent tax suit and struck off to the City as Trustee for the taxing entities. The struck-off value is $5,425. The City of Wichita Falls recommended acceptance of the bid of $1,000, submitted by Garrett and Devonie Hutchinson.
Financial Report as of Sept. 30, 2019
Chief Financial Officer Tim Sherrod presented the financial report as of Sept. 30, 2019 – three months of operations -- for board approval.
The report shows the revenue and expenditures through Sept. 30, 2019 for all funds and reports the revenue and expenditures for the General Fund, Food Service Fund and Debt Service Fund.
As of Sept. 30, the District has collected 14.49 percent of projected revenues and expended 23.84 percent of budgeted expenditures.
For the General Fund, revenues are 13.97 percent and expenditures are 22.55 percent of budgeted funds.
For the Food Service Fund, revenues are 17.90 percent and expenditures are 28.09 percent of budgeted funds.
For the Debt Service Fund, revenues are 1.29 percent and expenditures are 19.43 percent of budgeted funds.
Budget Amendments for October 2019
In a 7-0 vote, board members approved the budget amendments to the 2019-2020 budgets, as presented by Mr. Sherrod.
There were 20 itemized budget transfers.
The General Operating revenues and expenditures reflected no change.
There were no proposed amendments to the Food Service or Debt Service budgets.
Instructional Services Report on Performance Objectives
Jackie Wheat, director of Federal and State Programs, presented board members with a District Improvement Plan and accompanying performance objectives for the school year.
Strategies reflect Texas Education Agency guidelines and are aligned with state and federal requirements, she said.
The Campus Performance Objectives presented by Ms. Wheat included four main goals that focused on supporting teachers and principals, building a foundation of numeracy and literacy, connecting high school to career and college, and improving low-performing schools.
Board members asked for a presentation of last year’s objectives and goals and how closely the District came toward meeting them, which would help board members put these new goals into perspective.
“It’s kinda hollow without trend or last year’s data,” said board member Bob Payton. “I’d like to see it presented differently.”
Board member Dale Harvey agreed. “I’d like stronger data to see how those numbers were or were not obtained.”
Board President Elizabeth Yeager suggested putting the trend data into graphs.
Board member Mark Lukert said tracking these goals and objectives was part of the board’s duty. “We as a board need to be more involved with the struggling schools,” he said. “We need to be in tune. We need to help.”
In a 7-0 vote, board members approved the current District Improvement Plan and its performance objectives.
Cyndy Kohl, director of Human Resources, presented the Monthly Personnel Report, which reflected one professional retirement, one clerical retirement, seven professional resignations, and the resignation of one attendance clerk.
In a 7-0 vote, board members approved the applicant pool that listed three hires totaling 19 years of experience.