Sheldon School Board Hears Audit Report
Date posted - March 13, 2012
A representative from the State Auditor’s Office, which the School Board uses to conduct the annual audit, presented the audit’s findings to the Board at the Monday meeting. The audit found that the District’s revenues totaled $12,191,827 for the year ending June 30, 2011, which was an increase of 4.5% over the previous year. Revenues included $3.7 million in local tax, charges for service of just under $900,000, operating grants, contributions and restricted interest of a little more than $2.2 million, capital grants, contributions and restricted interest of $25,000, instructional support surtax of $438,099, statewide sales, services and use tax of $685,541, unrestricted state grants and contributions of $4.1 million, unrestricted investment earnings of $9,867, insurance recoveries of $30,379 and other general revenues of $85,679.
The District’s operating expenses totaled $11,655,637, an increase of 2.4% over the previous year.
A copy of the audit report may be viewed online at http://auditor.iowa.gov/reports/1130-5949-B00F.pdf
We’ll have more School Board news on upcoming newscasts.
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