Board approves financial reports and budget adjustments; treasurer reports clean audit and nearly completed roof project
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Summary
At the Sept. 11 meeting the board approved August financial reports, budget revisions and a transfer into the employee severance fund; the treasurer reported an Auditor of State unmodified opinion for FY2024 and that the district has paid $2,424,240 on the roof project with an estimated remaining balance of $269,360.
The Marlington Local School District Board of Education on Sept. 11 unanimously approved financial reports for the period ending Aug. 31, revenue and budget revisions and a $116,150 fund-to-fund transfer to the employee severance account.
"The auditor state reported an unmodified opinion, which means it was a clean audit," Treasurer Mister Foss said when announcing the completion of the FY2024 audit and noting the audit is posted on the treasurer's webpage and the Auditor of State's site.
Treasurer Foss reported the district closed August with a total fund balance of $11,693,729.66 and a general fund cash balance of $9,451,416.61. He said the district paid checks totaling $1,192,293.88 during August, and the largest payment was for the roofing project.
On the roof project, Foss said the district has paid $2,424,240 so far this fiscal year and estimated a remaining balance of $269,360 based on the contractor's estimate. He described the final sign-off process: contractor walk-through, insurance company review and Stark County sign-off. Board members asked whether a final walkthrough remains and whether the district had documentation; Foss said the district has documentation of two official walkthroughs and that Stark County signed off.
The board approved three budget revisions the treasurer read: adding $135,000 to the permanent improvement fund to cover a school bus purchase, adding $116,150 to the termination benefits fund for expected retirement payouts and incentives, and a $1,289.88 revision to Fund 551 (Title III grant) to cover the grant award. The separate fund-to-fund transfer of $116,150 from the general fund to the employee severance fund was approved in a subsequent roll call vote.
Treasurer Foss also reminded the board that House Bill 96 changed forecasting from five years to a three-year forecast and that the district must submit the revised forecast on an accelerated schedule (October 15 deadline). He asked the board to hold a finance work session Oct. 8 and the regular meeting Oct. 9 to accommodate the new deadline.
Donations approved included $7,000 from the Joe Farrell Memorial Foundation and $100 from Bill Coe for the softball program. The board also approved consent personnel items including hires, resignations and supplemental-pay corrections.