Audit and levy approved.
Audit and levy approved.
Verndale School Board
by Trinity Gruenberg
The Verndale School Board held their regular meeting on December 4.
Audit
Jon Archer with Schlenner Wenner Co. presented the audit for fiscal year 2017.
The total revenue was $5,810,270 with expenditures adding up to $6,149,883 due to the bus garage project.
“The audit shows a deficit of $339,000. This is attributed to the costs of the parking lot, fuel tank, and bus garage. The total expense for all three was $581,346.00. Without the expenses of the bus garage, fuel tank, and parking lot, the district would have seen an increase in the fund balance of $242,346,” said Brownlow.
The food service fund was discussed. The fund showed $307,975 in revenues with 211,977 coming from federal sources. Total expenditures came in at $306,694 for an ending fund balance of $39,434.
“We were concerned that was going to be in the deficit. It turns out we get to put $1281 in the bank,” said Brownlow.
Community service fund shows $55,914 and non-major funds are at $95,348...