By TONY VINDELL
Special to the NEWS
A financial audit of the San Benito Consolidated Independent School District shows that the district is in good standing.
The report, prepared by the accounting firm of Carr, Riggs and Ingram, was presented by Matthew Montemayor during a special board of trustees meeting held Tuesday, Nov. 22.
It shows the district has more than $180 million in assets and more than $163 million in liabilities for the period ending June 30, 2022.
In revenues, the district ended with more than $148.3 million in revenues and more than $143.3 million in expenses.
In the general fund, the district had a balance of more than $114.3 million in revenues and more than $102.9 million in expenses. The net change was $11.4 million.
A year ago, the district had more than $113.5 million in revenues and more than $87.7 million in expenditures. The net change was $25.8 million.
In its self-funded insurance fund, the district had more than $9.4 million in revenues and more than $11.7 million in expenditures, compared to more than $9 million and more than $11.2 million, respectively, a year ago.
The change was due to an increase of 4.5 percent in claims.
In long term debt, it ended with a total of more than $94.9 million from a combination of general obligation bonds, financial agreements and premium discounts.
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