The Salem Community High School Board Monday night received its annual audit report from Sara Hanks of Leymone Hardcastle in Salem.
Hanks reported the district was in full compliance with required internal controls and no federal audit findings.
She noted with COVID relief money, the high school’s share of federal funding jumped from seven to 22 percent of their total budget. State funding now makes up 30 percent of their budget and local funding 48 percent.
Hanks says there was a slight decrease in the district’s financial profile score. It dropped from a perfect 4.0 to 3.8.
Superintendent Dr. Brad Detering says that was anticipated.
“We knew that was going to occur because one of the four criteria for your financial profile score is the amount of available long-term debt that you have. So when we sold the bonds to do the HVAC and lighting project, we knew when we took on that long-term debt that we would shrink the amount available which would reduce our score, but we are still extremely proud of a 3.8.”
The audit showed the district had cash on hand to operate for 448 days. The operating expense per pupil was $14,800.
In the first quarter financial report that followed, Detering said education fund expenses were three percent under budget which is an extremely positive start to the year. He notes some other funds had high first-quarter expenditures due to the purchase of new buses and payments for building improvement projects.
Principal John Boles announced the first quarter ended last week and report cards would be going out next week.
In personnel action, volunteer football coach Coleton Harness was elevated to the paid staff.
