Worth County Ended Previous Year with $565,736 Surplus

On October 18th, Westbrook & Company released the following audit report of the Worth County School District:

To the Board of Education 

Worth County R-III School District 

We have audited the accompanying modified cash basis financial statements of the governmental 

activities, each major fund and the aggregate remaining fund information of Worth County R-III 

School District as of and for the year ended June 30, 2023, which collectively comprise the District’s basic financial statements as listed in the table of contents, and the related notes to the financial statements. These financial statements are the responsibility of the District's administration. Our responsibility is to express opinions on the financial statements based on our audit. 

The accompanying financial statement was prepared on the modified cash receipts and disbursements basis, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. 

In our opinion, the financial statement referred to above presents fairly, in all material respects, the revenues, expenditures, and changes in fund balances of the governmental funds of Worth County R-III School District for the year ended June 30, 2023, on the basis of accounting described above. 

This report and the accompanying financial statement are in summary form. Our complete report and the District's financial statements are available for public viewing at the office of the District's superintendent.

The report presented a summary of the finances. Local revenues, across all funds, were $1,915,303. County revenues were $287,518. State revenues were $1,707,771. Federal revenues were $834,398. Other revenues were $15,753 for a total of $4,760,743.

Among expenditures, instruction, including teacher salaries, was $1,904,357. Student activities were $280,972. Student services were $152,342. Instructional staff support was $84,573. General administration and central services was $283,577. Building administration was $282,896. Operational costs were $352,537. Pupil transportation was $380,984. Food service was $274,483. Community services were $11,352. Facility acquisition and construction was $127,956. Debt service, including principal, interest, and fees, was $98,978. Total expenditures were $4,195,007. 

The balance across all funds went from $2,666,061 to $3,231,797.