APS Audit Favorable to the District
Tue, 21 Nov 2017 06:02:49 EST
At Monday night's Alpena Public School Board meeting, members in attendance heard the district's annual audit report for 2016-17.
Certified Public Accountant Phil Straley of Straley, Lamp, and Kraenzlien P.C. said of the 99 page report, "You had a good year overall."
The fiscal year ended June 30th with a General Fund Balance of over two million dollars ($2,373,712.00). At just over six percent (6%), that is above a state early warning level, but below a ten percent (10%) board policy.
Total general fund revenue was more than 37-million ($37,314,879.00) dollars. Expenditures and other financing totaled just over 36-million ($36,084,804.00), that resulted in a positive fund balance of over 1-point 2 million ($1,230,075.00).
C.P.A. Mark Sandula said, "This is good news for Alpena Public Schools."
Over the last four years, the district has emerged from a million dollar deficit using a deficit elimination plan.