GRANGEVILLE — “Let me start by saying, it’s a very positive report,” Tom Luper, CPA. Presnell Gage, LLC, reported at the Mountain View School District 244 Oct. 19 board meeting.
Luper was on hand to present the annual audit of financial statements for the year ended June 20, 2020. The entire 68-page document is available electronically, as well as in hard copy at the district office.
“This audit should let you trustees know that what you have already seen throughout the year is accurate, and that is the case for MVSD for 2020,” Luper told the board members.
The MVSD total budget was nearly $13 million in 2020 and $12 million the previous year.
Luper explained this year the audited financial statements are formatted differently; however, they contain the same financial information.
“Do the district’s basic financial statements accurately reflect the district’s revenues, expenditures and the resulting financial position as of June 30?” Luper asked. “Yes. We are issuing a positive opinion.”
Luper highlighted a few areas:
· Overall revenues exceed expenditures by $815,580 after transfers.
· There were no transfers needed from the federal forest fund to balance the budget.
· Additional transfers at the board’s discretion included: $666,024 to the general fund to close the medical insurance reserve fund; $25,042 from federal grants for indirect costs to administer the grants; transfer of $151 to the school lunch program; $256,858 bus depreciation to the plant facility fund; $1,294 to the driver education fund.
On the school lunch program, Luper felt “very good” that the program had run in the black by more than $57,000 in the end. In previous years in the district, the school lunch program had run in the red, at one time in excess of about $100,000.
· Carryover of $1,393,363 included state grant funds of $207,809; extracurricular activities and school supplies of $136,685; contingency and 2019-20 funds of $1,048,869.
Luper reminded that Presnell Gage recommends at least 60 days of carryover for school districts.
“This is for cash flow purposes and other areas where we know school districts work on reimbursements,” he said.
The district ended this year with 38 days carryover in the general fund, and with the forest reserve fund, 135 days carryover.