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Garrison School District Pronounced in "Excellent Financial Health"
New copier may make Thursday student home packets lighter
by Margaret Sternberg
Much of the November 14, 2007 meeting of the Garrison Board of Education focused on the audit presentation of the district by Dominick Consolo, from outside auditor Bennett Kielson. The audit covered the 2006-7 school year, through June 30, 2007.
Revenue was positive at $281,756, mostly attributable to unanticipated interest earnings of almost $118,000 and state aid of $104,000 more than anticipated.
Under expenditures, the district expended approximately $9.2 million. Savings from the expenditure area amounted to $829,022, a number Consolo called "very positive" and caused him to add that the district had managed their expenditures "very, very well" to be able to save almost 10 percent.
As a result, the fund balance increased by approximately $565,000 which, added to the fund balance the district started with, resulted in a fund balance of $1,592,233.
Almost $702,000 of that was reserved for debt service, which Consolo described as a prudent move, $280,162 was reserved for encumbrances (known expenses,) $24,000 for tax certiorari (school tax refunds,) $32,910 for long-term receivables and $100,000 that was reserved for lowering taxes.
After deducting these expenses, the district is left with its undesignated fund balance - funds generally used for emergencies, unanticipated expenses or projects. The district's undesignated fund balance is $453,740, which represents approximately 5 percent of the total 2007-8 budget, which is higher than either the 3 percent this year or the 4 percent next year that is allowed by NY State law. Consolo said that that amount, as compared to the budget, showed that the district is in "excellent financial health…[and] has managed its finances very nicely."
Superintendent Gloria Colucci justified the undesignated fund balance percentage, noting that the amount itself was small and that, as a small district, although the overage was accidental, it made a difference in terms of having adequate funds for emergencies. She said that one additional special education student would easily cost the district $100,000.
Board President Anita Prentice also addressed the amount, saying that there had been fewer special education students this year than anticipated and that there had been unanticipated teacher retirements.
In other business, the school approved a new copier lease agreement, which would involve the installation of a new copier that can scan documents. The Board discussed the possibility of using this feature to e-mail material to parents instead of sending the information home in the Thursday afternoon packets, observing this would be particularly useful in the younger grades, where more materials seem not to make it home. Superintendent Colucci observed that it would take some time to learn and coordinate the use of the feature, but felt sure it could be used effectively.
Also noted was the cancellation of the 8th grade Walkathon. Superintendent Colucci said the event had "come up too quickly" on the heels of the soccer game, also citing sponsorship. She said the event is expected to be rescheduled in the spring.
There was no new information regarding the litigation with St. Basil Academy. The next meeting of the Garrison Board of Education will be Wednesday, November 28, at 7:30pm.
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