Danny Federico
reporter3.riverbendnews@gmail.com
According to the Florida Auditor General's report, the Suwannee County School District recently received clean findings in its annual financial audit for the fiscal year ending June 30, 2024.
The audit, prepared under the direction of Auditor General Sherrill F. Norman, assessed the financial activities overseen by then-Superintendent Ted Roush and school board members Jerry Taylor (Chair, District 1, now retired), Norman Crawford (District 2), Tim Alcorn (District 3), Ed daSilva (Vice Chair, District 4), and Ronald White (District 5).
Key financial findings showed the district's net position increased by $565,609, "a 4.1 percent increase over the 2022-23 fiscal year," to a total of $14,210,012 as of June 30, 2024. The district's revenues for the fiscal year totaled $82.97 million, with general revenues comprising $72.85 million—or 87.8 percent—of that amount. Program-specific revenues, including charges for services and grants, made up $10.12 million, or 12.2 percent. Property tax revenues increased compared to the previous year, generating $11.29 million for operational purposes and $4.26 million for capital projects.
The district's expenses totaled $82.4 million, with instruction accounting for the largest share at $41.8 million. The report notes that "instruction expenses represent 50.8 percent of total governmental expenses in the 2023-24 fiscal year," reflecting a 17.6 percent increase over the previous year due to "an increase in salaries and related benefits and an increase in net pension expense."
The district's General Fund balance grew to $8.51 million by the end of the fiscal year, which was up $1.36 million from the previous year. Of that amount, $5.99 million was unassigned. The audit links the increase to "continued cost containment measures implemented by the District to include cutoff of all nonessential expenditures; adherence to strict budgetary controls; and transitioning General Fund expenditures to the Special Revenue – Federal Education Stabilization Fund."
The audit also highlighted the impact of state funding increases and a $4 million appropriation from the Public Education Capital Outlay trust fund designated for the expansion of RIVEROAK Technical College. The report attributes the increase in capital grants and contributions, which rose by more than $4 million, to this PECO funding.
Additionally, the audit reviewed compliance with major federal programs, including the Child Nutrition Cluster and Student Financial Assistance Cluster, and found that "the District materially complied with the requirements that could have a direct and material effect on each of its major Federal programs."
At the fund level, the audit showed that the district's total governmental fund balance increased by $2.43 million to $18 million as of June 30, 2024. The General Fund's assigned and unassigned balances equaled 13.6 percent of total General Fund revenues, reflecting a healthy reserve position.
In its management discussion, the district credited its financial position to a combination of state funding increases, effective cost controls, and transfers of eligible expenses to federal pandemic relief funds.
The full audit report, including detailed financial statements and notes, is available at the Florida Auditor General's website, www.flauditor.gov.