Sturgis School Board hears audit report

2017-11-14

STURGIS – The Sturgis Board of Education heard the 2016-17 financial audit during their Monday work session.

Tom Cole and David Mulder of Plante-Moran presented the audit information, stating that General Fund Revenue was at $32.1 million and expenditures were at $32.6 million for the year.

As part of the presentation, Mulder shared with the Board the fund balance for the District is $4.1 million. That's approximately 12.79 percent of total expenditures for the year. That's higher than the state average of 11.37 percent.

Mulder says on a day to day basis, if Sturgis stopped getting any funding, they could run for 47 days on a 365 day calendar. Or on a 180 day school year, it would be 23 days.

Cole says school districts need a fund balance because their year ends June 30 and don't receive any money from the State until October 20. That money is needed to help run the District during the summer months.).

Cole says they gave the School District an unqualified opinion on their finances, which is the highest opinion they can give.

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