Posted by: Kim_Hamilton on 11/05/2010 12:45 PM
Updated by: thepinetree on 11/10/2010 12:50 PM
Expires: 01/01/2015 12:00 AM
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Press Release Regarding Mark Twain Union Elementary School District Ending Budget~by Kathy Northington, Superintendent
At a special board meeting on October 27, 2010, Mark Twain Union Elementary School District Board of Education reviewed their unaudited actuals for the 2009-2010 school year. Unaudited actuals is the official name for closing of the books for 2009-2010 school year. As a result of an increase in revenues and a decrease in expenditures, the ending balance came out to $721,612.65. This was surprising news to the District, but at the same time good news since we ended with more money than expected. ......
Our revenues increased partially due to an accounting error in funds coming into the District. The District was subject to a funding reduction of $252.00 per ADA in 2009-2010 which was slated to occur from revenue limit funding. At the time of the reduction, State Aid funding within the revenue limit would not have been sufficient for the State to recapture the full $194,348 from the revenue limit. As a result, the funds were collected by the State from other programs. At Third Interim, the District budget included the reduction to both revenue limit and other State funding, overstating the impact of the reduction two fold.
There were other revenues brought into the district in the way of grants, increased revenues from the District transportation enterprise, increase in some interest income, an increase in money from the SELPA allocation, as well as additional revenues from local donations and miscellaneous funding sources.
In expenditures, the budget ended with a decrease in classified and administrative salaries, employee benefits, books and supplies, services and other operating expenses and capital outlay.
A copy of the unaudited actuals may be obtained at the MTUESD District Office, 981 Tuolumne Ave., Angels Camp, CA. The phone number for the district office is 736-1855.
The next step for the District is to complete the First Interim report and get in place a three year projection before starting the process of how to spend these funds. The first priority for the District is to reduce class sizes.
Kathy Northington, Superintendent
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