The Troy City Schools reduced expenses by more than $780,000 last fiscal year and saw a net position decrease of $1.9 million, according to audit reports.
Tonya Mathis, on-site auditor for Brunson Wilkerson Bowden and Associates, P.C., presented the audit report to board members during their Monday meeting.
She said the auditors issued an unmodified opinion – “the highest level we can issue” – in reviewing the FYE2013 statement.
According to the audit, the district ended the fiscal year on Sept. 30, 2013, with $31,142,990 in total assets and liabilities of $25,612,666. That left the district with a net position of $5.5 million, a decrease of $1.96 million from FYE12.
Revenues were $18,616,900 and “changed very little from the prior year,” she said.
Of those revenues, $1.636 million came from local property taxes; $2.82 million from local sales taxes; and $65,296 from other taxes.
Total expenses were $20,622,213, a decrease of $786,000 from the prior year.
“That is largely due to cutting down costs from salaries through attrition and other costs anywhere we can,” Mickey Daughtry, CFO for the district, said after the meeting.
He said the district ended the fiscal year with approximately $4.1 million in general fund reserves, or roughly 2.5 to 3 months’ of operating reserves.
Board members accepted the audit report without comment, although President Wally Lowery later urged residents to support schools through shopping at home. “We need to keep those tax dollars local,” he said.
In other business, the board:
• Heard updates from principals regarding the continuing improvement plans at their schools. The plans are a response to areas identified for improvement in the recent accreditation process.
• Approved the retirements of Melanie Sessions, Charles Henderson High School science teacher, and Byron Franklin, Charles Henderson High School vice principal. “We’re sorry to see both of these people retire,” board member Roxie Kitchens said. “They’ve been a great asset to our system.”
• Approved a new policy for delegations and public speaking at board meetings. The policy limits delegations to a single person and requires the delegation meet with the superintendent prior to the meeting. The policy also limits the time a delegation to speak to two minutes.
Jason Thomas, the only board member to oppose the policy, questioned the need to revise the policy. Superintendent Dr. Lee Hicks explained that prior to the approval, the board only had practices in place, no policy.
• Approved a request to declare a paper shredder surplus for disposal purposes.
• Heard from a parent regarding her concerns and her special needs child.