The Salem Grade School board heard and approved an audit report that held no surprises for the district. The audit shows the district with $9.3 million in reserve across all funds and shows a deficit of $36,000 for the last fiscal year. The district’s financial profile score of 3.45 places it in Review status, short of Recognition. The auditor explained that expenditures across the four operating funds were the reason for this dip in score but noted that the score doesn’t account for changes in other funds. Overall, the auditor said that nothing in the audit was a cause for concern.
Regarding this year’s finances, superintendent Dr. Leslie Foppe recommended a 4.99% property tax levy increase this year. This increase would see the district’s revenue increase by roughly $120,000. A 4.99% increase falls just below the 5% threshold that would require a Truth in Taxation hearing. The levy will be voted on at the December board meeting.
Foppe said she felt good about the district’s current financial situation, describing this year’s spending so far as similar to last year’s. She believes an amended budget will show the gap closing significantly between revenues and expenditures for this year.
The board approved the employment of Ricky Huge as assistant golf coach and Sarah Buchanan as assistant bowling coach. They accepted the resignation of Carrie Gabbard as paraprofessional.
