Sections

Weather Forecast

Close

School district receives clean audit

Osakis School District 213 received a clean audit for the year ended June 30, 2018, when Mary Reedy, CliftonLarsonAllen LLP, presented the annual report to the School Board at its Wednesday, Nov. 14 meeting. The meeting was moved because of the Monday, Nov. 12 Veterans Day holiday.

The unmodified or clean opinion is the highest opinion a school district can receive, Reedy said.

She complimented the School Board, stating the reserve of 46 percent of expenditures is almost a half year of funding in reserve.

The general rule for districts the size of Osakis is about 25 percent of expenditures.

Reedy walked the board through the audit, which was for the fiscal year ended June 30, 2018.

The audit is broken down into three sections: General Fund, which had a balance on June 30, 2018, of $4,361,207; Food Service Fund with a balance of $112,661 on that date; and Community Services, which had a negative fund balance of $71,124.

Reedy pointed out that the Food Service Fund had total revenues of $400,760, and total expenditures of $407,120 for a negative $6,360 fund balance. Revenue came in at $37,000 over the budgeted amount, which was a plus.

Student Activity Fund, which had a fund balance on June 30, 2018, of $140,048, was also audited.

The General Fund had total revenues of $8,728,547, and total expenditures of $8,538,017, with a fund balance ending of $4,361,207.

A breakdown of the district's revenues for Fiscal 2018 showed that the largest portion, at 57 percent, came from unrestricted state aid; followed by operating and capital grants of 21 percent; property taxes at 16 percent; charges for services at 4 percent; and all other at 2 percent.

State revenue totaled $7,741,187. Federal funds totaled $504,272. Local property tax levy brought in $1,662,419, with other local and county revenue at $402,663. Sales and other conversion of assets amounted to $184,464.

The expense of regular instruction took up 39 percent of the budget, amounting to $3,960,755. Fiscal and other fixed cost programs amounted to 16 percent, or $1,706,729. Special education instruction amounted to 15 percent, for a total of $1,500,899.

Reedy pointed out that the district's average daily membership was down slightly from the previous year at 797.48 units, compared to 809.03 units for the Fiscal 2017 year.

"You gained state aid," she said, "but lost students." This is because of the increase in state aid per pupil unit funding each year.

During fiscal year 2018, resident student enrollment was 574.33 students, down just three from the previous year, at 72 percent; and 223.15 non-resident students, compared to 232.53 during fiscal 2017, or 28 percent of enrollment.