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ISD #413 Marshall Public Schools

ISD #413 Marshall Public Schools. Independent Auditor’s report June 30, 2013. Hoffman & Brobst , PLLP. District Highlights. Expenditures exceeded revenues by $209,000. Economic outlook for the state has improved; payments to schools are back on track. No short term borrowing required.

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ISD #413 Marshall Public Schools

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  1. ISD #413Marshall Public Schools Independent Auditor’s report June 30, 2013 Hoffman & Brobst, PLLP

  2. District Highlights Expenditures exceeded revenues by $209,000. Economic outlook for the state has improved; payments to schools are back on track. No short term borrowing required. $21,155,000 of proceeds from advance refunding bonds – District saved taxpayers $2,500,000 by refinancing. Meritorious Budget Award for the 2013 budget. Certificate of Excellence in Financial Reporting for the FY 2012 Comprehensive Annual Financial Report.

  3. The District’s Future… In 2011 a 5 year extension of the operating referendum was passed. The referendum in 2013 for technology and safety/security failed. 1 ½% increase expected for general education aid along with funding for all-day every-day kindergarten which has been a District program since 1999. Contract with teachers ended 6/30/13 and is in the process of negotiation. Alternative school location is changing and will have a new purpose with an expanded vocational-technical focus.

  4. District Enrollment Good news…the District’s trend shows that enrollment is increasing!

  5. The fund balance in the General Fund increased, as did the District’s available cash balance. The District did not issue Aid Anticipation Certificates in the current year which accounts for the significant increase in available cash at year end.

  6. Largest source of revenue is from the state. Federal revenue sources are a small percentage of income but are the cause of the most compliance requirements.

  7. Sources of funding are fairly consistent throughout the years. Higher federal funding in 2010 due to ARRA programs . Higher local funding in 2011 due to the tax shift.

  8. Largest use of dollars for any school district is for salaries and benefits.

  9. Types of expenditures are fairly consistent throughout the years. OPEB bond issue resulted in higher recorded employee benefits in 2010. Transportation costs are still a large portion of purchased services.

  10. Instructional costs (both regular and exceptional) account for the majority of the District’s expenditures.

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