The Worth County Audit Report has been released for the 2020-2021 school year. The audit by Westbrook & Co. found that the financial statement presents fairly, in all material respects, the revenues, expenditures, and changes in fund balances of the school funds. Accounting is done on the modified cash receipts and disbursements basis.
School revenues were $1,592,474 from local sources, $270,775 for county sources, $1,523,484 from state sources, $750,603 from federal sources, and $12,121 from other sources. Total revenues were $4,149,457.
Expenditures were $1,685,993 for instruction, $206,147 for student activities, $132,369 for student services, $81,038 for instructional staff support, $302,393 for general administration and central services, $233,300 for building administration, $331,518 for operation of plant, $245,094 for pupil transportation, $219,625 for food service, $12,251 for facility acquisition and construction, $530,000 in debt service principal retirement, and $48,898 in interest and fees on the debt service retirement. Total expenditures were $4,335,550. Proceeds from the sale of bonds were $450,000, leaving the school with an ending fund balance of $2,417,841, which includes all of the fund balances.
The school had an ending fund balance of $1,628,921 in the general fund, $95,696 in the debt service fund, and $693,224 in the capital projects fund as of June 30th, 2021.
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