Audit & District Report Card
2010-2011 Audit Approved
Matt Mayer from Kern, DeWenter, Viere presented their audit of the district to the board. First he thanked BHM Controller Tina Burkholder for all of her hard work to prepare the audit. Mayer said they deemed the audit unqualified or a clean opinion of materials presented by the district, meaning everything presented was in compliance. This is the highest ranking that can be given to a district.
Overall, the district's financial position continues to be balanced. Expenditures were controlled with lower than expected fuel and utility expenditures because of lower costs and conservation measures. The district was able to avoid cashflow borrowing for this year as well. The general fund's final revenues and expenditures were close to budget. General fund revenues came in 0.28 percent less than budgeted ($144,357), and expenditures were 1.63 percent under budget ($847,214).
With total revenues and other financing sources ending at $52,338,973 and total expenditures at $51,496,168, the general fund's overall fund balance increased $842,805 to $12,059,365 as of June 30, 2011. The (unassigned/nonspendable) fund balance ended the 2010-11 school year at $6,675,737 (12.87 percent) of the general fund's expenditures. The fund balance percentage is within the range of our fund balance policy of 8-12 percent and will buy the district some time before future action is needed if the state continues the same level of funding to school districts.
The Food Service and Community Service funds continue to be self-supporting funds.
Questions about the audit may be directed to Gary Kawlewski at 763.682.8708 or Tina Burkholder via email or at 763.682.8704.
Audit Report:
Report Card Information
Below is a summary of the projected revenues and expenditures for the district's various funds for the 2011-12 school year.
2011-12 Budget Revenues and Expenditures Summary
For additional information on school district information, please visit the Minnesota Department of Education's website. MDE's new data center is designed to provide parents, educators, school districts and citizens with easy access to test results, revenue and expenditure data, demographic information and other critical data. The data previously included in the report card pages is now available here.
Additional financial information for the district can be found under the Finance and Operations department pages.