Across all governmental funds, the net change in fund balances for the year was a decrease of $5,112,561. A board agenda for November 6, 2025 lists a discussion with the district's audit firm, Mauldin & Jenkins, represented by Ryan Jones.
IssueHabersham Countyunder consideration
Habersham County schools' FY2025 audit finds $8.7 million net position
The district's outside auditor found its financial statements fairly presented for the year ended June 30, 2025, and the school board's audit firm is set to brief members on the results.
Latest
November 6, 2025: Mauldin & Jenkins discussion (audit firm)
What happens next
The board's Nov. 6, 2025 agenda lists a discussion of the audit with the firm Mauldin & Jenkins.
At a glance
What this means now
The story
An independent auditor's report on the Habersham County Board of Education's financial statements for the year ended June 30, 2025, concluded that the statements present fairly, in all material respects, the district's financial position. The report noted that the district omitted the management's discussion and analysis section that accounting standards call for.
The report put the district's total net position at $8,722,070 as of June 30, 2025, with a change in net position for governmental activities of $5,442,719 during the year. Beginning net position was also restated downward by $209,048 for a change in accounting principle.
The district's governmental activities carried $158,471,764 in total long-term liabilities at year-end, which included a $81,089,781 share of the state teacher pension system's net liability. Net capital assets stood at $129,023,207.
Across all governmental funds, the net change in fund balances for the year was a decrease of $5,112,561. A board agenda for November 6, 2025 lists a discussion with the district's audit firm, Mauldin & Jenkins, represented by Ryan Jones.
What happened
How this issue got here
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Appeared on agendaproposedMauldin & Jenkins discussion (audit firm)
Mauldin & Jenkins Discussion – Ryan Jones
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Mauldin & Jenkins discussion (audit firm)
Mauldin & Jenkins Discussion – Ryan Jones
mentionedunknownManagement's discussion and analysis omitted from the report
Management has omitted the management’s discussion and analysis that accounting principles generally accepted in the
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Management's discussion and analysis omitted from the report
Management has omitted the management’s discussion and analysis that accounting principles generally accepted in the
mentionedunknownFY2025 total net position of the School District
Total net position $ 8,722,070
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FY2025 total net position of the School District
Total net position $ 8,722,070
mentionedunknownIndependent auditor's opinion on FY2025 financial statements
the financial statements referred to above present fairly, in all material respects, the respective financial
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Independent auditor's opinion on FY2025 financial statements
the financial statements referred to above present fairly, in all material respects, the respective financial
mentionedunknownFY2025 change in net position (governmental activities)
Change in net position 5,442,719
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FY2025 change in net position (governmental activities)
Change in net position 5,442,719
mentionedunknownTotal governmental activities long-term liabilities
Total governmental activities
long-term liabilities $ 181,838,585 $ 25,859,941 $ (49,226,762) $ 158,471,764 $ 7,418,648
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Total governmental activities long-term liabilities
Total governmental activities long-term liabilities $ 181,838,585 $ 25,859,941 $ (49,226,762) $ 158,471,764 $ 7,418,648
mentionedunknownRestatement of beginning net position for change in accounting principle
Restatement - change in accounting principle (209,048)
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Restatement of beginning net position for change in accounting principle
Restatement - change in accounting principle (209,048)
mentionedunknownDistrict's proportionate share of net pension liability (TRS)
School District’s proportionate share of the net pension
liability $ 81,089,781
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District's proportionate share of net pension liability (TRS)
School District’s proportionate share of the net pension liability $ 81,089,781
mentionedunknownFY2025 total governmental funds net change in fund balances
Net change in fund balances - total governmental funds $ (5,112,561)
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FY2025 total governmental funds net change in fund balances
Net change in fund balances - total governmental funds $ (5,112,561)
mentionedunknownCapital assets, net (governmental activities)
Governmental activities
capital assets, net, $ 123,610,422 $ 5,429,957 $ (17,172) $ - $ 129,023,207
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Capital assets, net (governmental activities)
Governmental activities capital assets, net, $ 123,610,422 $ 5,429,957 $ (17,172) $ - $ 129,023,207
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