OISD Board Hears Clean Audit
The Olney Independent School District Board of Trustees reviewed financial reports, enrollment data, and the district’s annual audit at its Jan. 26 meeting.
The board also approved a 2 percent raise for Superintendent Matt Caffey.
Dr. Caffey reported that average daily attendance has improved slightly since earlier in the year but remains a concern, particularly following a sharp drop on Martin Luther King Jr. Day, which was not designated as a school holiday this year. Attendance rebounded the following day, and the district plans to seek a waiver for the low-attendance date. Trustees said they will consider whether to include MLK Day in future calendars.
Board members also discussed attendance impacts tied to half-day schedules before University Interscholastic League events, particularly at the elementary level, and agreed to review whether adjustments are needed. Texas public school districts receive state funding based on daily attendance.
Trustees approved a six-month contract with caterer Walker Quality Services to provide additional cafeteria support, including on-site assistance and menu planning. The service represents an increase over prior costs and is intended as a shortterm effort to improve food service operations.
Technology purchases, including possible replacement of aging smart boards, remain under review, with no decisions finalized.
The district’s annual audit was presented remotely by Cameron Gulley due to icy road conditions. Mr. Gulley reported no material weaknesses in internal controls and no instances of noncompliance with state or federal requirements. The district is expected to receive a perfect financial accountability rating, he said.
The audit showed the general fund ended the year with approximately $1 million less in cash than the prior year, driven by a $764,000 operating deficit largely tied to increased payroll costs and reduced state revenue related to attendance. Meanwhile, the debt service fund posted a surplus, bolstered by rising property values. Olney ISD receives some funding from property taxes on the Young Wind Farm.
Property valuations in the OISD taxing district grew more than 5 percent to approximately $491 million, continuing a multi-year upward trend. Mr. Gulley advised the OISD board to consider using excess debt service reserves to pay down outstanding bonds.