The District’s FY 2017-18 audit was presented to the Finance Committee and shows our financial situation is improving. Our raking is 3.25, review status, compared to last year’s 2.45, which is in the watch category. Three of the five fund categories have improved. Chief of Business Operations, Ryan Whicker, explained that the District’s cost reduction plan and additional categorical payments from the state have led to the improvements. The amount of cash on hand is one month which is still very tight. It is recommended to have 6-12 months of cash reserves. As long as the District continues to receive state funding on time and as our building projects are completed, our financial picture will continue to improve.
The Board held a public hearing and approved issuing Health Life Safety Bonds to resurface the track at Flinn Stadium. Improvements will include modifying the track from 6 lanes to 8 and modifying the turns. Eight lanes will make the District eligible to hold regional track meets. The request to use Health Life Safety funds will now go to the state for approval.
Auctions to sell Washington and Dewey School were held Thursday, October 25. Dewey School was sold to Jon Allen for $35,000. There were no bidders for Washington School. The minimum bid required was $200,000. The Board is reviewing their options for next steps to sell the property.
The 2019-2020 Health Life Safety Plan was approved by the Board. The two-year plan outlines maintenance projects for District facilities.
The Baldwin and Denman Elementary construction projects are going well. The Blue Devil gym area at Baldwin will be ready for the basketball season. Denman should be closed in for the winter and have temporary heating soon.