FF School District audit reveals healthy surplusPublished 12:20pm Tuesday, November 27, 2012
Board member Mark Masten presented the audit of the school district for the fiscal year end in 2012.
He said the audit report was good. There was one item the auditors noted. A negative balance was discovered in a middle school yearbook account.
Masten explained that there was some confusion between the school and a yearbook vendor as to who would collect funds from students for the yearbooks. While this was considered minor, Masten said it exemplifies the detail the audit goes into.
Masten pointed out that the district now has a fund balance of $1,126,914. Superintendent Ness said this is quite an accomplishment, due to good management by the schools, especially since the district had a deficit in 2008.
“We’re growing slow and steady,” said Masten. “We have a surplus of four percent, but we really want to have at least eight percent.”
Masten added that other districts budget for a larger surplus, but it has always been the Fergus Falls School District’s policy to spend funds on the kids. Board member Melanie Cole asked why the food service fund balance was so high in the report. Masten replied that it was because students were no longer allowed to eat off campus, so the fund balance had gone up.
He said that as costs rise, the district could potentially keep prices to students the same or lower than they would be if costs were factored in.