MANLIUS — Auditor David Wilcoxson presented Bureau Valley School District’s annual audit at the school board meeting Oct. 28.
Wilcoxson gave a brief overview of the district’s historic financial history from as far back as 1996. He also explained how the district debt is structured and the calendar of payments through 2019.
Superintendent Dennis Thompson said the audit gives a reflection of the business practices of the district and the trends of the district’s finances.
The audit can help point out where things can happen over time and does a reasonable job of making sense of where things may go, Thompson added.
The audit for 2012-13 shows a direct revenue amount of $12,541,348 and a direct expense amount of $13,240,380. The direct revenue total does not include the $3 million worth of bonds the district sold in the fall of 2012.
Comparing those numbers to the 2011-12 audit, the district then had a direct revenue of $12,444,496 and direct expense amount of $14,121,061.
Thompson explained some of the issues Bureau Valley is seeing right now, which may also be something other school districts are detecting, is being able to predict how much state aid the district will receive each year.
Right now, the school district is receiving about $300,000 less than what it used to receive.
“In the past, when we estimated state aid, we were maybe $1,000 off from the exact amount that actually came to us,” he said.
Thompson explained every year the district has to come up with a prediction of how much state aid they anticipate receiving. While creating the school year budget, the state sends out a letter stating the district’s percentage of state aid. Each year, that percentage has been decreasing.
Thompson admits the decrease in state aid has been the biggest factor behind why the district was forced to sell bonds totaling about $3 million to help keeps funds running.
The audit is available for the public to review. A copy can be picked up in the district administration building.
Also on Oct. 28, the board:
• Set BV South promotion at 7 p.m. May 23; BV North promotion at 7 p.m. May 24; and the high school graduation at 3 p.m. May 25.
• Accepted the resignation of Abbi Bosnich as BV North seventh-grade girls’ basketball coach for the 2013-14 school year. She was then approved as head freshman basketball coach for this year.
• Accepted the appointments of Corey Peterson as volunteer BV North boys’ basketball coach, Zach Jacobson as volunteer BV South boys’ basketball coach and T.J. Hahne as volunteer high school boys’ basketball coach.
• Accepted the resignation of Jean Shepard as high school cook.
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