By Pam Robinson
All things considered, the Metropolitan School District of Mount Vernon could report a primarily positive outlook for its finances during the Board of Finance and Mount Vernon School Board meetings on Monday, Jan. 21, 2013.
Just before school board members met for their regular meeting, they met as the Board of Finance to elect a president and secretary—as customary, selecting the president, Kathy Weinzapfel, and secretary, Heather Allyn, of the school board to fill the positions. Then, Loren Evans, Director of Business and Technology, presented the 2012 investment report.
The 2012 investment report focused on two areas 1) scholarships and 2) the general fund and other specific funds. Currently, United Fidelity Bank manages scholarship investments at an interest rate of .75 percent or three quarters of 1 percent. As a result, some scholarships will be lower because earnings are lower. Old National Bank, or ONB, is managing general fund and other specific fund investments, and Evans said that the administration is pleased with ONB’s management. He added that the administration will be looking for ways to produce as much income as possible from its investments.
With the brief Board of Finance meeting concluded, the subsequent Mount Vernon School Board meeting focused again on school district finances. Evans presented the board with the December 2012 financial statement, the 2012 expenditure and revenue summary, the 2012 property tax summary, and the appropriation transfers within the general fund to close out the 2012 budget year.
At the end of the year, the school district could report in its financial statement that 96.38 percent of the general fund budget had been expended and that 85.95 percent of the transportation budget had been expended. The figures mean the general fund came in $570,000 under budget while the transportation fund came in $300,000 under budget. Coming in under budget allowed the general fund to be within $23,000 of being in the black, as reported in the 2012 expenditure and revenue summary.
In reviewing the 2012 property tax summary, Evans pointed out that the property tax distribution did not include any money in the general fund. He added that the school district’s property tax distribution was $350,000 short—the result of delinquent taxes and circuit break credits to taxpayers.
In closing out all budget accounts for 2012, a year-end routine approved by the board, two appropriation transfers were made within the general fund to finish the year with non-negative appropriation. Both transfers were from account 11000, personnel and instructional materials. One transfer of $43,864.31 was made to account 17000, transfer tuition, to cover expenses related, for example, to high school vocational school training. Another transfer of $22,704.86 was made to account 26000, operation and maintenance. Evans emphasize the transfer was not to cover facility maintenance, but rather to cover property and casualty insurance on buildings, grounds and liability for which the full amount was not budgeted.
The school district’s finances are in especially good shape considering the school district was down by 20 students at mid-year. School officials will submit another student count in February, at which time the state funding level could go down again for Mount Vernon. Looking forward to 2013, the administration is planning to be under budget in the general fund again, especially since the budget includes $400,000 more in expenses than in revenue.
Dr. Tom Kopatich, Superintendent of Schools, noted that the district has not had to cut programs or services thus far. He remains optimistic that the MSD of Mount Vernon will continue to move forward.
In other business:
• The board accepted the resignation of Michelle Northrop as assistant volleyball coach at the high school effective immediately. The vote made way for the next action of the board to confirm the employment of Michelle Northrop as the head volleyball coach at the high school.
• The board appointed the following administrators through June 30, 2014: Greg DeWeese, Principal, Marrs Elementary; Loren Evans, Director of Business and Technology; David Frye, Director of Buildings and Grounds and Principal at Farmersville Elementary; Jody Pfister, Director of Curriculum, Grants and Testing; Gary Redman, Athletic Director; Paul Swanson, Principal, West Elementary; and Fran Wood-Osborne, Director of Special Education.
• The board approved the use of facilities by Coach Paul Quinzer for the junior high baseball camp in March 2013.
The Mount Vernon School Board will meet again Monday, February 4, 2013, at 5:45 p.m. in the junior high media center.
By Pam Robinson
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