Auditors compared budgeted appropriations and estimated revenues with actual operating results for 2015-16 through 2017-18 and found that appropriations were overestimated by an average of $1.3 million (7 percent) each year or a total of almost $3.8 million. As of June 30, 2018, surplus fund balance totaled almost $1.5 million, 7 percent of the 2018-19 budgeted appropriations, exceeding the statutory limit by approximately $626,000.
The full audit can be reviewed HERE.
This is the response from the school:
