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Dist. #202 hears positive news about financials

The Board of Education for District 202 received some very good news regarding the district’s financial audit at last night’s meeting. 

Teresa Welch from Blucker, Kneer and Associates presented the audit to board members, telling them that the district was moving in a positive direction.

“As you can see, you are… in a balanced [budget] position. There’s no deficit-reduction plan necessary,” Welch told school board members. “You did have a loss in operation and maintenance but you still have a positive fund balance so everything is still in a positive light.”

She informed board members that the district had enough cash on hand for 171 days of school. That’s up from what it was a year before when the district only had 150 days cash on hand.

Cash on hand is based on current balances of education, transportation, and operations/maintenance funds. Welch told board members that the education balance increased by $343,198. Operations/maintenance funds decreased by $119,254. and Transportation was up over $80,000.

Superintendent Steve Wilder told board members that ideally the district would have upwards of 200-days of cash on hand, so the district could operate a full year without state funding.

Welch also revealed that the Evidence-Based Funding Formula had increased by $359,258 to around $4 million. Last year the district received $3.7 million.

Additionally, the board approved the 2018 tax levy, with no changes made from the tentative levy approved last month.

Wilder reminded the board that the district is projected to have an Equalized Assessed Value of almost $108,951,163, an increase of 2.55-percent in property value. As a result, the levy that Wilder presented was 4.99-percent higher than last year at $4,885,083.

Broken down into real dollars, with the current EAV projection, the tax rate would come in at $4.48.

The board also approved publishing a request for bus lease bids, and an agreement for the Regional Office of Education #33 to provide instructional coaching for up to ten Dist. #202 teachers.

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