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LISD Audit

Liberty Independent School District trustees were presented with the 2015-2016 annual fiscal year audit last Tuesday by CPA Shelby Lackey. She is a senior manager with the accounting firm Weaver. The auditor provided the district with what is called an unmodified opinion. That means the district’s records are complete and include accurate disclosures that comply with standard accounting practices and procedures. During her presentation, Ms. Lackey said she was thankful for LISD Chief Financial Officer Julie Hebert and her staff who made the process easier. During the 2015-2016 fiscal year, LISD had gross revenues in the general fund of $20.56 million and expenses of $18.26 million. At the end of the last fiscal year on August 31, the district’s general fund balance totaled $11.2 million. However, that includes $1.9 million that is restricted by contractual obligations related to school bonds. That means the useable general fund balance is $9.3 million. The auditor described that as a healthy fund balance. In short, auditor Shelby Lackey said the Libertyschool district’s 2015-2016 fiscal year audit confirmed its financial statements accurately reflect the district’s fiscal condition. Libertytrustees accepted that report with a unanimous vote. Liberty school board President Lloyd Pierce expressed gratitude on behalf of the board to Julie Hebert and her staff for a job well done.

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