By Shelby Stewart
Staff Writer
Brandon Twp.-On Monday at the school board meeting, Paul Bryant and Chris Kassab of Plante Moran presented the school district’s annual financial statements and auditor’s report for the fiscal year ending June 30, 2018.
The board voted 4-0 to approve the audit. Board members Lisa Kavalhuna, Debbie Brady, and John Chartier were absent with notice.
“Overall, your programs are not suffering, even though your revenue is going down,” said Bryant. “You’ve done a good job of making sure you’re reallocating those monies where they’re needed.”
According to the audit for the fiscal year 2017-18 the general fund revenues of $25,531,618, an additional $274,578 in other financing sources, with expenditures of $25,584,085 increased the fund balance by $222,111. The total fund balance is $4,124,117, 16.1 percent of expenditures, with $2,082,545 of that being unassigned.
“We see great value in these annual audits,” said superintendent Matt Outlaw. “It gives us an outside, expert perspective on our financial stewardship and internal controls. Plante Moran is always extremely thorough, so this audit gives us confidence that we are headed in the right direction. Jan Meek and her team do a excellent job and their attention to detail is greatly appreciated.”
The unassigned fund balance has decreased slightly from 9.05 percent in 2016-17 to 8.14 percent this past year.

The average fund balance statewide is 11.8 percent.
The audit showed that though the general fund revenue was slightly under what was budgeted, the expenditures were $275,115 under what the district budgeted for, which contributes to the increase in the fund balance.
The district lost 119 students this past school year, a little less than the previous year when the district lost 129.
However, the grant revenue per student has gone up again to $7,631, and increase from the previous year when it was at $7,511.