MT. VERNON — Mt. Vernon Township High School officials say the district is heading in the right direction financially, with lower than anticipated expenditures and favorable revenue trends.
In June, MVTHS’ expenditures totaled $13,232,891, which is markedly lower than it was in previous years. In June 2013, expenditures were at $13.9 million. The year before that, June was showing $13.8 million in expenses.
Superintendent Michael Smith credits the falling expenses to frugal spending practices and other cost-saving measures.
“It’s just trying our best on cost containment and watching expenses and being aggressive on rebidding contracts and constantly looking at ways to continue our programs and kind of do more with less,” Smith said.
School officials discussed the current state of the district’s finances at a meeting Thursday of the MVTHS Board of Education’s Finance Committee.
During the session, Finance Director Angie Brentlinger presented the
monthly treasurer’s report, as well as financial reports detailing how the district’s funds performed in June.
Smith also commented on the district’s overall financial outlook.
He said the district’s financial status has changed dramatically since he first came on board in the 2009-2010 school year.
In September of that year, the district’s total fund balances were in the red by $85,542. This past June, however, the total fund balances were in the black by $4.3 million. These amounts do not include the Capital Projects Fund.
Fiscal year 2014 ended for the district on June 30. For that year, total revenues came in at 101.62 percent, which means they exceeded estimates by 1.62 percent.
The year’s expenditures totaled 93.58 percent, meaning they were below estimates by 6.42 percent.
“That’s where we wanted to be and as a result we ran a balanced budget,” Smith said. “And that’s a testament to all involved because that’s a balanced budget losing 11 percent of our state aid in proration.”