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| "Financial Recognition" for District 217 |
An audit of the Abingdon School District's finances shows things are turning around.
Stephanie Ramsay of Gorenz and Associates presented the school board with the findings of the audit Wednesday night, including a financial score of 3.7 out of a possible 4.0 for 2008, ranking the district in the grouping of financial recognition. The score in 2007 was 2.9, which put the district on financial early warning status with the state board of education.
Ramsay told the school board the district was able to get out of potential financial trouble by cutting costs where possible and increasing tax rates over the past several years. She also told the board there was an excess of $282,000 in revenue over expenditures this year.
Ramsey says the school district is in a better position than a year ago, and it's making strides to build up some fund reserves.
The school district, according to the audit, gets 56 percent of its revenue from General State Aid and 27 percent from real estate taxes. Nearly 60 percent of the district's expenditures are for employee wages, and another 10 percent for benefits---or close to 70 percent combined. Ramsay says that's typical, and that she's seen the range go from 60 percent all the way up to 90 percent.
Ramsay also says the school district is spending, on average, $6,753 per child compared to the state average of $9,515.
The school board approved the audit with a 5-0 vote.
In other business, Superintendent Tami Roskamp presented the district's proposed levy amount during a Truth in Taxation hearing that received some feedback from three members of the public.
Roskamp says the district is seeking a 4 cent levy increase this year, to $6.04, compared to last year's $6 for each $100 of equalized assessed valuation. Roskamp says she's not expecting to receive the increase she's seeking, and instead, believes the total will be around $5.99 per $100 of EAV.
At least two people complained about potentially having to pay higher taxes. One, a woman, asked when will the higher taxes end?
The 4-cent increase that's proposed would come out to $6.66 more a year in taxes for a person owning a $50,000 home, or double that amount for a $100,000 home.
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| 11 12 08 by Newsroom |
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