Mt. Vernon Register-News

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

By ROSIE GITHINJI
rosie.githinji@register-news.com

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: