Gilbert Public Schools reported improved overall financial health and received an unmodified, or clean, audit opinion in its annual comprehensive financial report for the fiscal year ending June 30.
Bonnie Betz, the district’s associate superintendent, outlined the overall financial results and trends for the governing board last week, reporting a positive change in the district’s government-wide net position, which ended the year at $420.7 million.
Betz said that total includes a negative unrestricted balance tied to the district’s proportionate share of statewide pension liabilities, a required accounting disclosure that does not represent an immediate cash obligation for the district.
