ROCK SPRINGS — The Sweetwater County School District No. 1 Board of Trustees did not reorganize their board at Monday night’s meeting and received the results of a financial audit.
Board members voted to keep the current leadership in place, Cole Wright remains chairman, Danielle Schumacher continues as vice-chair, Anjelica Wood will stay on as clerk, and Josh Sorensen retains his role as treasurer.
Audit Report
The audit was conducted by Carver Florek & James, CPA’s, who delivered a report with key highlights indicating strong financial health. The district’s total revenue exceeded expenses, leading to an increase in net assets of $11.71 million for the fiscal year.
The district ended fiscal year 2025 with a total net position of $182.29 million, a positive increase over the previous year. The unrestricted net position, which is available for general purposes, stood at $12.79 million. Governmental activities saw a $11.49 million increase in net assets, while business-type activities generated $210,000.
The district’s governmental activities performed strongly, generating $18.84 million in program-specific revenues. These activities were largely supported by $93.99 million in general revenues, which covered the costs of these programs. However, business-type activities, which include services like food and transportation, reported a small deficit, with a net position of -$780,000.
Another bright spot in the audit was the district’s debt situation. There was no bonded debt during fiscal year 2025.
“We are in a great spot to meet the needs of current and future students for generations,” said Superintendent Joseph Libby.
