Annual Audits

  • hand holding digital version of the work auditThe Texas Education Code calls for an annual audit of district fiscal accounts. These after-the-fact examinations are performed to ensure our material compliance with applicable state and federal laws and grant program requirements. While an audit is not geared to find every tiny error, it is conducted by licensed CPAs who are looking to make sure that all of the significant items are accurate. Our annual audit is required to be submitted to TEA within 150 days of the end of our fiscal year, or January 28th of the next calendar year.

    Waxahachie ISD also expends more than $750,000 in federal grant funds and is subject to federal “single audit” provisions and procedures annually. These procedures are testing our use of grant funds to ensure that we are spending the funds in accordance with the requirements of the grant application.

    The presentation of multiple audited financial statements gives the public an opportunity to review the actual activity in each of the District’s financial accounts over an extended period of time. Financial statements are not comparative, meaning each year is presented individually.

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