The Lakeway Bee

Auditors gave LTISD the top grade - unqualified - for its latest Financial Year. Key facts include the following statements:

• The assets of the District exceeded its liabilities at the close of the most recent period by $51.9 million. Of this amount, $26.5 million (unrestricted net assets) may be used to meet the District’s ongoing obligations.
• As of the close of the current fiscal year, the District’s governmental funds reported combined ending fund balances of $34.3 million. Approximately 77 percent of this total amount, $26.5 million, is available for spending at the government’s discretion (unassigned fund balance). Fund balance of $3.7 million, about 11 percent, is restricted for current and future capital projects.
• At the end of the current fiscal year, unassigned fund balance for the General Fund was $26.5 million, or 34 percent of the total General Fund expenditures.

The full report is available HERE

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