2018 - 2019 Financial Report (Audit)
KSO CPAs and Advisors
During the November meeting of the Board of Education, a representative from KSO presented the Financial report for the year ending August 31, 2019. Some information from that report follows.
Overview of School District
Students: For the year ended August 31, 2019, the average daily membership was 315 students. The average daily membership over the last ten years at August 31 was;
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
300 | 314 | 297 | 296 | 307 | 310 | 305 | 301 | 279 | 280 |
Personnel: for the year ended August 31, 2019, the district had 35 full time certified employees, 1 part time certified employee, 19 full time non-certified employees, 13 part time non-certified employees, and substitutes on various occasions.
Payroll wages for the last 5 years:
2019 $2,734,800
2018 $2,634,109
2017 $2,528,631
2016 $2,456,699
2015 $2,538,991
Valuation & Tax Levy: the assessed valuation of property within the District and the total tax levy for the last 5 years:
2019 $651,455,250 0.599267
2018 $658,035,616 0.585313
2017 $632,296,761 0.695362
2016 $600,538,363 0.782843
2015 $486,071,526 0.969449
Financial Highlights (comparing the current year to the prior year)
The School District’s total net cash position decreased by $841,924 from $4,188,200 to $3,346,276.
The School District’s total cash disbursements decreased by $166,821 from $5,813,379 to $5,646,558.
The School District’s total cash receipts decreased by $569,294 from $5,373,928 to $4,804,634
“The financial position of the School District has not changed significantly from last year.”
Major Revenue Sources: During the year ending August 31,2019, the composition of the School District’s governmental fund receipts is as follows:
Local sources $3,473,056 76.07%
County sources $ 24,533 0.54%
State sources $ 853,053 18.68%
Federal sources $ 157,431 3.45%
Other $ 57,747 1.2%
Total $4,565,820 100.00%
The KSO representative reported an improved audit process from the previous years and commended Ms Simpson and MaKenzi Woollen, Business Manager, for the work they have done to improve the operation of the business office. The board appreciates the continued cuts in spending and the systems put in place to better control the ordering of supplies and materials. As recommended by the auditors, the Board is continuing to take a more active role in internal controls and monitoring accounting functions.
Any questions concerning school finances and this report can be directed to Ms Simpson during regular school hours.