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ISD #413 Marshall Public Schools

ISD #413 Marshall Public Schools. Independent Auditor’s report June 30, 2012. Hoffman & Brobst , PLLP. District Highlights. Revenues exceeded expenditures by $260,000. $1,500,000 increase in the funds owed from the state. $2,500,000 in aid anticipation certificates issued.

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ISD #413 Marshall Public Schools

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  1. ISD #413Marshall Public Schools Independent Auditor’s report June 30, 2012 Hoffman & Brobst, PLLP

  2. District Highlights Revenues exceeded expenditures by $260,000. $1,500,000 increase in the funds owed from the state. $2,500,000 in aid anticipation certificates issued. $300,000 paid in teacher retirement incentives. July 1, 2011 storm costs covered with insurance proceeds. Meritorious Budget Award for the 2012 budget. Certificate of Excellence in Financial Reporting for the FY 2011 Comprehensive Annual Financial Report.

  3. The District’s Future… Last fall a 5 year extension of the operating referendum was passed. $50 per student increase expected for general education aid. Integration aid expected to be discontinued. Contract with teachers ends 6/30/13. Issued $21,555,000 in refunding bonds resulting in savings of $2,800,000.

  4. District Enrollment Good news…the District’s trend shows that enrollment is increasing!

  5. The fund balance in the General Fund increased; however, the District’s available cash balance in the General Fund was at the lowest point in the last 10 years.

  6. Largest source of revenue is from the state. The state shifted over $1,000,000 from state aid to local taxes last year. Federal revenue sources are a small percentage of income but are the cause of the most compliance requirements.

  7. Sources of funding are fairly consistent throughout the years. Higher federal funding in 2010 due to ARRA programs . Higher local funding in 2011 due to the tax shift.

  8. Largest use of dollars for any school district is for salaries and benefits.

  9. Types of expenditures are fairly consistent throughout the years. OPEB bond issue resulted in higher recorded employee benefits in 2010. Increased employee benefits in 2012 is due to the retirement incentive. Increase in transportation and electricity costs cause purchased services to increase.

  10. Instructional costs (both regular and exceptional) account for the majority of the District’s expenditures. Increase in site and buildings in 2012 is due to the storm damage.

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