Worth County School Audit Report Released

On September 2nd, Westbrook & Co. released the audit report to the Worth County School District for the 2024-25 audit report. The letter states as follows:

To the Board of Education

Worth County R-III School District

We have audited the accompanying modified cash basis financial statements of the governmental activities and each major fund of Worth County R-III School District as of and for the year ended June 30, 2025, which collectively comprise the District’s basic financial statements as listed in the table of contents, and the related notes to the financial statements. These financial statements are the responsibility of the District's administration. Our responsibility is to express opinions on the financial statements based on our audit. 

The accompanying financial statement was prepared on the modified cash receipts and disbursements basis, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. 

In our opinion, the financial statement referred to above presents fairly, in all material respects, the revenues, expenditures, and changes in fund balances of the governmental funds of Worth County R-III School District for the year ended June 30, 2025, on the basis of accounting described above. 

This report and the accompanying financial statement are in summary form. Our complete report and the District's financial statements are available for public viewing at the office of the District's superintendent. 

(Signed)

Westbrook & Co., P.C.

September 2nd, 2025

The attached financial summary shows that the school received $2,280,083 in local funds, $335,598 in county funds, 1,922,377 in state funds, $385,402 in federal funds, and $63,254 in other funds for a total of $4,986,714 in revenues across all funds.

Total expenditures for the school were $5,145,054. Proceeds for the sale of bonds from the voter-approved bond issue were $1,300,000. At the beginning of the 2024-25 school year, the school had $3,790,007 in all funds. At the end of the school year, the school had $4,931,667.