Report (pdf) - School Management Services

the time of preparation of this report and, therefore, annual audit reports for
six consecutive years from 2001-02 through 2006-07 were analyzed).
Table 5-B details that the School District of Bruce’s General Fund revenue
increased from $5,639,351 in 2001-02 to $6,165,712 in 2007-08, an
increase of +$526,361 or +9.3%. Within the same six year span of time,
the school district’s General Fund expenditures increased from $4,868,066
in 2001-02 to $5,660,815 in 2007-08, an increase of +$792,749 or +16.3%.
Between 2001-02 (base year) and 2007-08, the school district’s General
Fund balance decreased from $1,725,286 to $1,281,615, a decline of
-$443,671 or -25.7%.
The Project Consultants observed that the School District of Bruce
operated balanced General Fund budgets in each of seven consecutive
years from 2001-02 to 2007-08. Revenue growth over the six year span of
time (using the 2001-02 revenue figure as a base) averaged +1.55%/year.
At the conclusion of the 2007-08 school year, the School District of Bruce’s
General Fund balance of $1,281,615 amounted to a healthy 22.6% of the
school district’s General Fund expenditure budget of $5,660,815.
The Project Consultants observed that the School District of Bruce’s six
year growth in revenue (+9.3%) trailed the organization’s six year growth
in expenditures (+16.3%) by -7.0%.
The Project Consultants concluded that the School District of Bruce has
been a fiscally well-managed educational organization. The School Board
© Roger Worner Associates, Inc.
46