Audit shows strong financial footing for AISD
The Albany ISD Board of Trustees received a detailed preliminary audit report during its regular meeting Monday, Sept. 15, presented by Cameron L. Gulley of Eastland. No action was taken on the audit, with formal acceptance expected during the October board meeting
Gulley praised district staff, particularly business manager Angelyn Faith, for closing the books by Sept. 1—just one day after the end of the financial year on Aug. 31. He noted that such a rapid turnaround is “unheard of” in most districts and reflects highly on the district’s internal processes.
Despite initial concerns, the district ended the year with only a $320,443 deficit and maintained a healthy fund balance of approximately $4.5 million. It was noted that $120,000 of the deficit was attributed to covering the shortfall in the cafeteria fund.
The budget variance for the 2024–25 year totaled $7,445,525, largely due to lower-than-expected expenditures and increased revenue from both state and local sources. Certain functions, such as curriculum costs and facilities acquisition, came in well under budget, helping the district remain financially stable.
The presentation included a discussion of newly required reporting for long-term liabilities, particularly those related to the district’s local leave policy. Gulley cautioned that allowing employees to carry 30 days of local leave could affect the district’s financial position on paper and may impact how much can be borrowed in future bond proposals.
While the audit revealed no compliance issues, Superintendent Daryl Stuard noted that the board may need to consider revisiting its local leave policy in the future, based on how it affects the district’s financial liability and borrowing capacity.
Gulley said Albany’s financial health is well above average for a district its size. “The fact that you’re able to maintain your fund balance through the highs and lows is not normal—that’s a testament to strong fiscal management,” he said.
Other business
•The board unanimously approved the updated Emergency Operations Plan, which now officially designates Superintendent Stuard as the district’s primary spokesperson in case of emergency.
•A proposed change to board policy regarding meeting dates was postponed until the next TASB policy update.
•Administrative reports noted a positive start to the school year, with attendance rates up and tardies down. The first six-week grading period concludes Friday.
• Superintendent Stuard announced that the Academic Boosters Club recently approved nearly $15,000 in funding for curriculum supplies and staff training for the 2025–26 school year.
•The district’s facilities committee is set to meet again to discuss ways to reduce construction costs in anticipation of a possible bond election.
• Homecoming festivities will take place Friday, Sept. 19, including a pep rally at 9 a.m., parade at 5 p.m., and varsity football game at 7 p.m. against Coahoma.
