Owsley County school audit posted, shows district finances for 2025
Owsley County schools’ 2025 audit lays out how local, state and federal money was tracked, with the full audit package now posted by the Kentucky Department of Education.
The Kentucky Department of Education posted Owsley County School District’s audited financial statements and supplemental schedules for the year ended June 30, 2025, giving Booneville and the rest of Owsley County a detailed public record of how school money was reviewed. The audit was prepared by Allen & Associates, PLLC, of Richmond, and it includes the independent auditor’s report, management discussion and analysis, government-wide statements, fund financial statements, notes, required supplementary information and supplemental schedules.
In plain English, the report is built to show what the district owns, what it owes, and how money moved through the schools over the year. The government-wide statements include a statement of net position and a statement of activities, while the fund statements separate money by purpose, which matters in a school system where local, state and federal dollars often come with restrictions. The management discussion and analysis, placed near the front of the audit, is where district leaders explain budget conditions and any major shifts in finances during the year.
That structure makes the filing more than a stack of numbers. It is the district’s year-end financial record, and it gives school board members, taxpayers and parents a way to track whether public money was documented and classified correctly. Owsley County Public Schools says its financial staff works to maximize all local, state and federal funds allocated to the district and handles budgeting, payroll, purchasing, accounts payable, retirement, taxes and insurance.
The 2025 audit also gives residents a direct comparison point with the prior year. The Kentucky Department of Education posted the 2023-2024 Owsley County audit under the title “FY2023-2024 FA Owsley Co Rev.,” and that report was prepared by Shad J. Allen, CPA, PLLC. The 2025 filing is the next annual checkpoint, and its management discussion and analysis is the section most likely to explain changes in operating results, fund balances or debt from the previous year.
District records list Superintendent Gary Cornett and the main office at 14 Old Highway 11 in Booneville, KY 41314, with phone number 606.593.6363 and fax 606.593.6368. NCES identifies Owsley County School District as district ID 2104620.
The filing lands at a time when Kentucky school finance remains under close scrutiny. In a separate statewide dispute, state auditor Allison Ball said the Kentucky Department of Education needed “widespread improvements,” while KDE disputed the finding that it improperly returned $250 million available for education. Against that backdrop, Owsley County’s annual audit is one of the clearest tools local residents have to follow how school dollars were handled and how leadership documented them.
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