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Audit: Knox County ROE Had Less Money in FY07
While a state audit says the Knox County agency that oversees local schools needs to do a better job accounting for its money, it doesn't have as much money to account for.

That's part of a report released Wednesday by the Illinois Auditor General's Office, now that an audit of the finances for the Knox County Regional Office of Education in the 2007 Fiscal Year has been completed.

A summary of the audit shows that compared to the prior fiscal year, revenues were down about $30,000. In FY '07, the report says total revenues were just over $677,000, compared to $706,000 the year before. Of that, 90% is from the state, 8% is from local sources, and about 2% is from the federal government. In FY '06, the local and federal revenue percentages were higher than that, while the state percentage was lower.

The report also shows that in FY '06, the ROE spent about $15,000 more than it took in; while in the following fiscal year, expenses were $7,000 lower than revenues. In both fiscal years, more than 80% of the office's expenses were to salaries. Salries, though, were about $25,000 less in FY '07.

The audit found that there were a number of accounting-related errors that had to be corrected, and the ROE says they're trying to work through that.

For more information on the audit, CLICK HERE.
08 27 08 by Newsroom
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