MCISD receives positive audit

Posted 12/10/19

The Madisonville Consolidated Independent School District (MCISD) board was presented with the highlights of an independent audit report during the monthly meeting for December Monday, which showcased strong financial accountability in the district.

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MCISD receives positive audit

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The Madisonville Consolidated Independent School District (MCISD) board was presented with the highlights of an independent audit report during the monthly meeting for December Monday, which showcased strong financial accountability in the district.

“Fund balance is your primary indicator of financial health within a governmental entity,” said Robert Belt of Belt Harris Pechacek LLLP. “Most financial rating agencies will advise you to have about 60 to 90 days of your operating expenditures on hand, and you are well above that amount and in very good shape from a fund balance perspective.”

The district began the year with a fund balance of 5.8 million and ended it at 6.9 million. Their general funds and revenues from the year was 22.3 million while their operating expenditures were just over 21 million.

Belt described the audit as “very good” at the conclusion of his presentation.

The board also heard a presentation from Liz Sanchez, Regional Vice President of Durham School Services. Durham refreshes their fleet annually based on its performance and the district’s necessities.

The school will receive two brand new wrapped trip buses to replace a pair of lemon buses. They will also receive six buses that are four-to-eight years old to replace six 17-year-old buses.

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