Source: Sherman Publications

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Goodrich School District presented with clean audit

by David Fleet

October 26, 2011

Kim Lindsay from Lewis & Knopf, Certified Public Accounting attended the Monday school board meeting for the presentation of the 2010-2011 audit.

"The district is in good shape," said Kim Lindsay, CPA and vice-principal of Lewis & Knopf. "The district has been proactive and the enrollment has been steady. Goodrich students are still on top of the charts."

The district ended the fiscal year with a fund balance of about 15.5 percent or $2,776,469, using about $104,000 to balance the budget. The revenues for the district were $17.65 million with $17.55 million in expenses.

About 81 percent of the budget was attributed to salaries and benefits with about 10 percent in services.

"We had about $900,000 in reductions to the budget last year and had to use $104,000 from the fund balance," said John Fazer, district superintendent.

"Right now we're anticipating using $1 million from the fund balance in the current 2011-12 school year. That's our projected budget and we plan on amending the current budget at the November board meeting. There is a lack of state funding and reoccurring expenses."

Lewis & Knopf audits 33 school district statewide.

"Most of the districts we work with are in the 10 to 15 percent fund balance range," said Lindsay. "Many of the districts, like Goodrich, have been proactive in their budgets to keep that balance. It's painful, no doubt. Still, every district is different. Some of the bargaining units work well with the district, others are very contentious—the relationship is key in these economic times."