GISD passes annual audit with top rating
by PHILLIP WILLIAMS
Dec 22, 2013 | 607 views | 0 0 comments | 34 34 recommendations | email to a friend | print
The annual outside audit of the Gilmer Independent School District resulted in the auditing firm giving GISD the highest rating the firm can render, a representative of the firm told the School Board on Tuesday night.

The board voted to approve the audit after Karen A. Jacks of Karen A. Jacks and Associates, a Longview certified public accounting business, told trustees her firm gave an “unmodified opinion”—the highest rating possible—for the audit for the 2012-2013 fiscal year.

She called that “a very positive outcome in your annual audit.”

“We did not have any surprises,” nor find anything “unusual or significant,” although the firm identified “a few minor things” needing adjustment, Mrs. Jacks said. Commending the school staff and board, she added, “We did not do much adjustment to your internal records.”

“Your financial statements are materially accurate,” the accountant told the board.

At fiscal year’s end, she added, the general fund’s balance was just more than $5.3 million, $2.4 million of which is not desigated for any particular purpose. She called that “a very healthy financial position for your district.”

She also praised the “well-managed budget” and the financial performance of the school’s food service operation. In addition, Mrs. Jacks said GISD saved money by issuing new debt to pay old debt.

Said School Supt. Rick Albritton, “They (the Jacks firm) didn’t have to change anything because we were correct in our presentations.”

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