MORRISTOWN - Morristown Central School rebuilt its fund balance slightly last year after revenues outstripped expenses by nearly $700,000.
Superintendent David J. Glover said the audit of the 2012-2013 school year was the cleanest report weve had here, at least in my time.
The review by Bowers and Company Certified Public Accountants, Syracuse, showed the district increasing its total fund balance from $3.25 million at the beginning of the 2013-2013 fiscal year to $3.93 by June.
According to the report, the $8.5 million 2012-2013 budget was able to achieve savings thanks in large part to the increased property assessments that increased tax revenue while maintaining minimal increases to the school tax rate per thousand.
The report notes that the increase in fund balance will allow some flexibility to the district in future budgets, though it predicts that revenues overall will continue to fall in years to come.
Savings in the 2012-2013 budget were not achieved easily, however, and were the result of tough choices.
Four positions were eliminated in that budget which marked a $100,586 decrease from the 2011-2012 budget.
However, partly due to the savings in the 2012-2013 budget, no cuts in staffing were made in the current budget, and several positions were restored.
District Business Manager Patricia Smithers said overall it was a good audit, I was very pleased.