Mt. Vernon Register-News

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October 11, 2012

Financial state of D-80 remains steady

District rated 3.8 for ‘financial recognition’, the highest status as designated by the state

MT. VERNON — — The financial state of District 80 has remained steady since last year, reported Jim Leuty, partner with Krehbiel and Associates, the district’s auditing firm. He also reported the district performed well on its annual audit.

He said the district rated a 3.8 for “financial recognition,” the highest financial status as designated by the state of Illinois.

Leuty said the district has $8.9 million in assets this year, which is similar to assets held last year.

“All in all, I think the district had a good year,” he said.

Superintendent Mike Green reported the state is behind in its payments to the district. He said the state currently owes $713,454, which includes $175,000 for pre-k programs, $154,000 for transportation costs and $145,000 for special education programs. He said the district did eventually receive all the money it was owed for last year, which he hopes will be the case this year.

In other business, the board:

  • Heard from Lori Givens, principal at Benjamin Franklin Early Childhood Center, who gave an update on the head start and pre-k programs. She said the head start program is completely full and there are only three spaces open for the pre-k program;
  • Discussed the updates for the Zadok Casey Middle School expansion. Construction will begin on Monday.
  • Approved a resolution for the partial abatement of the working cash fund in the amount of $80,225. This amount will be paid each year until 2017 to pay for new windows and doors which were put in at Casey Middle School a few years ago.

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