District Meets Board of Education Goals for Fiscal Year 16 Budget
In October of 2015 the Woodward-Granger Board of Education in a public work session sat down and analyzed the fiscal status of the district. From this analysis the board set specific financial goals related to the 2016 budget. These budget related goals were as follows:
In creating these goals the board articulated a vision of how they intended to maintain and position the district financially for the future. These goals were established based on limits and recommendations of the Iowa Association of School Boards.
The district was able to utilize both local Grantwood accounting financial resources and information available from the Iowa Association of School boards (see 7 financial indicators attached) to improve the overall financial forecasting and decision-making. In addition, the board and Superintendent analyzed monthly revenues and expenditures available to the school’s General Fund account. This allowed for adjustments to expenditures to be made on a monthly basis.
At the end of the 2015-16 school year the $11 million dollar general fund budget ended $10,813 to the positive ahead of the previous year. This minimal change indicated an overall balanced budget for the year. In addition the district solvency ratio (undesignated/unreserved general fund balance/actual total receipts of the district for the year) ended at the year at 10.75%. In the end, the financial goals of the district were met for the FY16 School year.
Brad Anderson
Superintendent
