Nathan Prewett
LEEDS, Ala. — The Leeds Board of Education heard its latest audit report during a regular meeting held on Tuesday morning.
Steve Moore from the Potter, Bryant and Moore firm delivered the Fiscal Year 2025 audit report that had an unmodified opinion, considered the highest that a firm can give as there were no concerns about the financial status.
He began with stating that there was a negative unrestricted net position of $22 million, though this was no cause for concern because the state added pension and health insurance liabilities to all of the boards in Alabama.
There were a total of assets of $16 million in the general fund. Accounts payable were $500,000. Salaries and benefits payable were $2.3 million. Liabilities were $2.8 million. The unreserved fund balance was $14 million. Special revenue was $3.5 million.
In capitol projects there was $6.7 million with no liabilities. There was $600,000 in assets in the debt service fund. Moore ended by saying that there were no concerns about compliance or material weaknesses in the overall report.
Chief Financial Officer Ryan Miller gave a report on the district’s financial situation for June. During that time 86.40% of the general fund revenues and 97% of the local revenues were received, up 2.31% from last year.
Expenditures were 74.83%. Accounts payable were $826,000. Gross payroll was $1.4 million. The month was ended with an excess of revenue over expenditures of $4.9 million.
During comments Leeds High School graduate Bailey Hughes spoke and raised concerns about what she reported as a lack of communication from the Charles Barkley Foundation regarding scholarship applications.
She spoke on behalf of other students who shared similar concerns and had not heard from anyone they reached out to. Superintendent John Moore responded that he would look into the matter.
A budget hearing is set for Aug. 25 at 10 a.m. The fiscal year 2027 budget will be presented, though no actions will be taken, Moore said.
Meetings generally take place every second Tuesday at 10 a.m. at the Leeds Board of Education Building located on 1517 Hurst Avenue.
Nathan Prewett can be reached at nthomasp6@gmail.com.
