Fremont school audit offers some good news

Fremont Public Schools Superintendent John Kingsnorth said that the school district’s recent annual audit report indicates that the school system’s fnancial situation has improved dramatically.

The accounting frm Hendon and Slate recently conducted the district’s annual fnancial audit in order to determine the fnancial performance of the district.

“We were greatly pleased with the results of this audit,” Kingsnorth said.

“The board and executive administration in particular, as well as all those who have participated in your budgeting and cost control procedures, are deserving of praise for the fscal management of Fremont Public Schools,” Daniel R. Slate CPA noted in the audit report.

Kingsnorth offered these highlights from the audit report:

• Total general fund expenditures for this last year declined by 5.15 percent.

• General fund expenditures for the year ended June 30, 2007 were only 2.2 percent greater than for the year ended June 30, 2001, in spite of an increase of 17.05 percent in infation over the same six-year period, a savings compared to infation of $2,837,541.

• Compared to the infation adjusted costs of June 30, 2001, the school district’s costs to educate one child for this last school year have decreased by $791 or 10.6 percent.

• The latest fscal year also represents the frst year since June 30, 1999 that the school system has added to its fund balance. The general fund balance at June 30, 2007 amounted to 6.42 percent of general fund expenditures, a signifcant improvement over the prior year’s balance of 1.73 percent. “We greatly appreciate all those who have helped Fremont Public Schools provide such excellent educational opportunities, while cutting costs and saving where possible,” Kingsnorth said. “Together, we have made the exceptional possible.”