Tuesday, October 20, 2020

Audit Shows Worth County School Had $148,000 Surplus

The annual audit of the Worth County School District shows that the school took in around $148,000 more than it spent despite the Coronavirus Pandemic during the 2019-2020 school year. The audit was conducted by Westbrook & Company. Westbrook released the audit to the public in summary form. The complete report, along with the District’s financial statements, are available for public viewing at the Superintendent’s Office. Monthly financial reports are posted on the school website under the school board meeting sections and are also available for public viewing.

Revenues include local receipts, county receipts, state funds, federal funds, and other revenues. The school received $1,607,909 in local tax revenues, $1,444,817 in state revenues, $246,036 in county revenues, $355,069 in federal revenues, and $5,487 in other revenues for a total of $3,659,317.

Expenditures include $1,624,931 for instruction, $235,096 in student activities, $142,322 in student services, $71,175 in staff support, $316,889 in general administration, $224,721 in operational expenses, $263,942 in transportation expenses, $170,986 in food service expenses, $11,042 in community expenses, $16,511 in construction, and $133,824 in debt service principal and interest for a total of $3,510,911. For the 2020 school year, revenues exceeded expenses by $148,406 for the school year.

As of June 30th, the school had $1,495,811 in the general fund, $82,738 in the debt service fund, and $575,385 in the capital improvements fund for a grand total of $2,153,934.


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