By Shelby Stewart-Soldan
ssoldan@mihomepaper.com
Brandon Twp. — On Oct. 21, at the Brandon Board of Education meeting, Chris Kassob and Lauren Solano of Plante Moran presented the school district’s annual financial statements and auditor’s report for the fiscal year ending June 30, 2024.
The board voted 7-0 to approve the audit.
According to the audit for the fiscal year 2023-24 the general fund revenues of $31,780,924 with expenditures of $31,409,889 and additional uses of $371,035, kept the fund balance the same as last fiscal year at a total of $4,328,623. The fund balance is about 13.6% of expenditures.
“The zero dollar net change in fund balance is due to the fact that the district transfers excess fund balance to debt funds to help pay for debt service related to the debt service agreement and the energy bond, which the district had done this year,” said Solano. “That’s essentially a transfer of unrestricted general fund dollars which go to the debt service fund.”
In keeping with past years, the district had 53.58% of expenditures going back into the classroom with teacher wages, substitute teachers, classroom supplies, textbooks, classroom equipment and furniture. The district has kept the number around 55% for the last ten years.
“As the funding changes from year to year, revenue can swing up or down, what this is really showing is that the district has really maintained a good, steady allocation of dollars that benefit the classroom,” said Kassob. “All those dollars that are really benefiting the students and going directly to the classroom, so you like to see that this is remaining steady given the changing funding landscape.”
The audit also showed that, while funding has gone up to $9,608 per pupil, the district is down 26 students.