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Madison Local approves financial statements as general fund balance falls to about $1.42 million
Summary
The district treasurer reported year-to-date revenues of $27,996,739 and expenditures of $28,447,588, leaving a general fund balance of $1,417,216 at the end of April; the board approved the financial statements and a package of community donations.
The Madison Local Board of Education on May 12 approved the district’s financial statements for March and April after the treasurer reported year-to-date revenues of $27,996,739, expenditures of $28,447,588, and an ending general fund balance of $1,417,216.
“The general fund had year-to-date revenues of $27,996,739, expenditures of $28,447,588, and an ending balance of $1,417,216,” the treasurer told the board while asking for approval of the statements. The presenter also said that balance compares with an April 25 ending balance of $4,240,933.
The board also approved a package of community donations that the treasurer read into the record. Items included $3,000 from Molten Metal Equipment Company to Madison High School for student fees, $3,000 from Madison Bingo Boosters to National Honor Society, a $500 donation from Car News of America for Future Farmers of America programming, and in-kind gifts such as Girl Scout cookie donations for staff appreciation and eight guest passes from Lake Metroparks for South Elementary prizes. The donations vote was recorded in the transcript as 4-0 in favor.
A board member thanked the community for the donations, estimating their combined value at nearly $15,000 and praising local support for district programs.
The board did not take additional budget actions at the meeting; the treasurer asked the board to approve the statements and will continue to report on revenues, expenditures and forecasted balances at future meetings.
