Leeds Board of Education Hears Fiscal Year 2020 Audit
By Nathan Prewett
LEEDS – The Leeds School Board heard a fiscal year 2020 audit report regarding the school system’s income and finances at a regular meeting on Tuesday, July 13.
Highlights of the report were that cash and cash equivalents were $ 3.6 million and property taxes receivable $ 4.3 million at the end of 2020. The regular claim was $ 668. $ 000 and inventory, such as children’s nutrition items, at $ 44,000. Total assets were $ 67.8 million.
The total liability was $ 75 million. The total net position was negative at $ 14 million, but the report says this is common among school boards statewide. $ 8.7 million in revenue came locally, helping to reduce any deficit that had accumulated. General fund assets were $ 6.7 million.
The report found that the financial situation of schools in the city of Leeds was generally favorable.
“So in layman’s terms, we made an ‘A’,” joked Kathy Dutton, board member.
Audit reports are uploaded to the Business and Finance section of the Leeds City Schools Website under “resources”.
Subsequently, the school’s financial director, Ryan Miller, presented the financial report for May, the eighth month of the fiscal year. In his report, Miller said general income was 72.49%. Local revenue was 91.3%, up 2.25% from May last year.
Spending was 62%, which Miller called good because the goal would be to keep it below 66%. Accounts payable amounted to $ 509,000 and the excess of revenue over expenses was 2.3%. The un-earmarked fund balance was $ 4.5 million.
Superintendent John Moore mentioned that 11 teachers in the school system have chosen to enroll in the TEAMS salary scale that was discussed at the previous meeting and which would increase the salaries of math and science teachers. Moore said two refused when one teacher was unqualified.
In her comments, Moore also mentioned that head nurse Melissa Lail is currently working with Christ Health Center to get COVID vaccines for students aged 12 to 18.
A three-year grant that the system received was briefly discussed with Moore indicating that an expense item of the grant could be used to expand after-school services, particularly for child care “with a focus. academic ”during the next school year.
Progress at Leeds Middle School Stadium was also briefly discussed with maintenance manager Jim Simpson, who said concrete pillars were being installed. He said progress on the stadium should be completed before the football season, although he said “everything is safe and ready to go” now.
The board adopted seven action items on its agenda, most of them related to services for students with special needs. Contracts were approved for Elizabeth Johnson Myers, Crescent Counseling Services, the Woolley Institute for Spoken-Language, Mary-Margaret Newland and two contracts for Impact Family Counseling Services.
In other cases, the board has approved an extension of contract with Emcor for water treatment in schools.
The next Leeds Board of Education meeting will take place at 6 p.m. in the Leeds Middle School library on August 10.