Auditors give SE Greene positive report
MAPLETOWN – Southeastern Greene School Board received a positive report from auditors Thursday who said they have a “very respectable” general fund balance of $1.9 million in undesignated funds. “What it comes down to from a long-term and short-term standpoint is that Southeastern Greene is very well positioned to weather a financial storm,” said auditor Steven Cypher of Cypher & Cypher.
The audit covered financial statements for the year ending June 30, 2007.
The report listed no instances of non-compliance with laws and regulations and no significant deficiencies.
The total fund balance, including $1.2 million that is designated for capital projects, is $3.1 million, the audit reported.
Business manager Pat Sweeney said that by having a fund balance, the district might not need to raise taxes if it needs money in the future.
“The fact that you have money set aside is a great thing,” Cypher said.
The report showed that financial expenditures totaled $5.7 million. That number represents the net cost of education in the district, including costs for instruction, instructional student support, administrative and financial support, operation and maintenance of plant, pupil transportation, student activities, community services, and interest on long-term debt.
Of the $5.7 million, state and federal grants, subsidies and contributions paid $4.4 million. The local share of the coasts was $1.3 million, or 14.6 percent.
Sweeney said the majority of the local share is funded by property taxes but it also is funded by earned income taxes, occupational privilege taxes, rent and tuition.
A “disproportionate share” of the local effort comes from real estate tax because the district does not have a large population of people who work, causing low earned income tax revenue, Sweeney said.
In other matters, the school board announced that the public is invited an educational committee meeting at 9:30 a.m. today in the high school conference room. Superintendent Michael Caruso will present information about plans for school improvement, Pennsylvania System of School Assessment scores for last year and projections about this year and changes to the high school curriculum.
“It’s important for the public to know what processes we’re going though to improve the curriculum and school,” said Director Ginny Eberhart, who heads the Educational Committee.