Georgetown ISD held its monthly school board meeting Monday night. Here are some of the highlights: GISD financial standing An independent audit performed by accounting firm Maxwell Locke and Ritter gave an overview of GISD's financial statement after its fiscal year ended June 30. A representative from the firm said the school district had $26 million dollars remaining in its general fund, with $5 million set aside for the acquisition of land and capital improvements. The representative said the school district "is sound and well prepared for the future." Two deficiencies the district made were also mentioned, including the district exceeded the budgeted amount on an item by more than $100,000 because of calculations that were beyond district control, according to the firm. The district also did not spend the total allotted money it received for career and technical education, or CTE, programs, using 55 precent instead of the required 58 percent of funds. Land for a new school Steve West, GISD's chief financial officer, made a recommendation for the board to execute the closing on the acquisition of the Santa Rita school site. According to West, the property located in the Santa Rita Ranch area was donated to the district contingent upon building a school. The board previously approved an item to explore the acquisition in April. "It was a win for [GISD] as well to negotiate with them about this piece of property," West said. West also said the school district is not in a place financially to build a new school, but the closed acquisition means it does have the rights to build a school. If GISD chooses not to build, the land will go back to the developer. 50 Fellas Foodfest Superintendent Fred Brent invited attendees to support GISD by attending the 50 Fellas Foodfest this weekend. Benefitting the Georgetown ISD Education Foundation, the fundraiser features 50 teams, including Mayor Dale Ross, Brent, Police Chief Wayne Nero and others showcasing their culinary talents with appetizers, entrees and desserts. Food is judged by popular vote. 6-8:30 p.m. $45 (admission with food and drink). Georgetown Airport GTU Jet Hangar, 160 Terminal Drive, Georgetown. 512-943-1886. www.gisdedfound.org/50-fellas-foodfest.html