Auditor gives thumbs up to school district's finances
By Richard Zowie —
The Fredericksburg Independent School District board of trustees on Nov. 22 unanimously approved the annual financial report for the district’s 2012-2013 fiscal year, which ended on June 30, 2013.
Patrick Klein of the accounting firm Klein, Kraus & Company, LLC, presented the board with the annual report.
The 2012-2013 year was actually 10 months long, and began on Sept. 1, 2012.
The 2013-2014 fiscal year, began on July 1, 2013 and will end on June 30, 2014.
School board president Lorrie Hess said the change of the beginning of the school’s fiscal year from Sept. 1 to July 1 is done to set budgets and to make sure school supplies are ordered before school starts.
“The district’s books are in good shape,” Klein said.
According to the report, the district’s total net assets for governmental activities increased by $1.3 million during 2012-2013 to $38.8 million on June 30, 2013.
The General Fund showed an ending fund balance this year of $12.1 million.
And, for the 11th year in a row, the FISD earned a rating of Superior Achievement by the Texas Education Agency under its Financial Integrity Rating System of Texas. Superior Achievement is the highest rating possible and is based on criteria used to determine the overall financial health and stability of school districts throughout Texas.
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