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Board receives clean audit; district reports $17M invested, enrollment steady at 3,062
Summary
The board heard the 2023–24 Annual Comprehensive Financial Report (ACFR) and auditor's management report; auditors issued a clean opinion with zero findings. The finance summary noted $17 million invested (about $2 million in NJARM), roughly $908,000 total interest earned, and total enrollment of 3,062 used for state aid reporting.
The Voorhees Township Board of Education reviewed the district’s 2023–24 Annual Comprehensive Financial Report (ACFR) and the Auditor’s Management Report (AMR) Monday; the auditors issued a clean opinion and reported zero findings.
Miss Haley, the board secretary presenting the financial highlights, said the district has $17,000,000 invested overall, including roughly $2,000,000 in the New Jersey Cash Management Fund (NJARM). She said the district earned about $157,008.23 from those two specific investments and about $908,000 in total interest across all accounts, which the district is using to support the budget. Miss Haley told the board that CDs account for about $15,000,000 of the invested amount and are reported in cash and cash equivalents.
On food service, the ACFR shows a reported loss of $43,000 for the year; when adjusted to remove one‑time supply chain assistance and equipment purchases, that operating shortfall would be about $27,000, Miss Haley said. The AMR contained no findings, and the prior year recommendation was closed with corrective action.
Enrollment used for the state aid application (ASSA) was presented as 3,062 students (including 2,990 on‑roll students and 86 provider preschool students). The presenter said district enrollment is “pretty much flat,” with a net increase of 15 students year over year and specific grade‑level shifts (kindergarten down by 16, grades 1–5 up by 4, eighth grade up by 21). The district will update projections as preschool expansion proceeds.
The board was also notified that the district was awarded $4,000 by its Joint Insurance Fund for safety initiatives, claims reporting and financial performance; the money is to be used for safety purchases. Miss Haley highlighted maintenance and capital work completed over winter break, including HVAC filter changes, LED lighting upgrades in a library, a new HVAC unit at Signal Hill, stormwater repair at Signal Hill, and other preventive maintenance projects.
Finance committee chair Jacob Rosner summarized committee work including demographic projections, transportation efficiency options, and aligning some contracts to the fiscal year. The committee plans to review transportation options at an upcoming meeting.
Board members had no questions that changed the audit presentation; the ACFR and associated items were presented for the board’s review and are available in the finance section of the district’s online agenda packet.
