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Audit shows strong reserves; state retirement revenue cut will squeeze next-year budget
Summary
Auditors reported a roughly $6.9 million general fund balance (~16.5%). Finance staff said a $1.2 million retirement revenue cut from the state, partially offset by about $600,000, leaves the district budgeting cautiously for next year.
External auditors told the Harper Creek Board of Education that the district closed the fiscal year with approximately $6.9 million in the general fund, about a 16.5 percent fund balance.
"You ended the year in your general fund with about $6,900,000, which is about a 16 and a half percent fund balance," Christine Kratzer of Willis and Jersak said during the audit presentation. Kratzer also told the board the districts…
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