POSEN - An audit of Posen Consolidated Schools' finances for the 2011-12 school year shows the district spent less than it took in.
In their December meeting, school board members heard a report on the required annual audit of the district's finances. Superintendent Dru Milliron said he believes the audit went well, and the district will continue to keep its expenses low.
"We're doing the best we can with what we've got to work with," he said.
Despite taking in less revenues than anticipated in the district's final amended budget, Posen still managed to stay in the black. The district took in $2,187,093 and spent $2,141,908 - a difference of $34,519, according to the audit report.
At the end of June 2012, the district had $31,836 in its general fund balance, $16,561 more than anticipated in the final amended budget. The total amounts to about 1.4 percent of the district's overall budget, Milliron said, adding he believes the district has done well in its attempt to avoid deficit spending.
With half of the current fiscal year, Milliron said he's hoping the district can continue spending less than it takes in. So far, revenue is on par with what administrators and board members assumed it would be, and the district likely will amend its budget in a month or so.
In other business, Posen's students soon will be riding in a new bus purchased with bond money, Milliron said. It'll be the first new bus the district has purchased since 2006.
The 2014 Navistar cost $76,307, and was ordered from a dealer in Gaylord, Milliron said. Once it arrives, it will replace an older one, which will then be used as a spare.
The purchase comes shortly after district administrators had to take a bus out of service due to problems with its frame, Milliron said.
In August, voters approved lowering the levy for an existing school bond by one mill, and levying the same amount to pay for buses and classroom technology for the district.
Half of the new levy also will go into a building sinking fund, according to ballot language. This allows the district to purchase new buses and computers, as well as maintaining the district's building, without dipping into the general fund, Milliron said.
Jordan Travis can be reached via email at email@example.com or by phone at 358-5688.