New Albany Follows State Guideline with Carryover
Thursday, June 25, 2009 4:57 AM
WCLT News Staff
One area school district says their carryover balance is in line with recommendations from the state despite having over a $16 million balance. Officials with the New Albany- Plain Local Schools say they presented a Five Year Forecast in May and announced the district would have a $16.4 million carryover by the end of the fiscal year. The balance is comparable to the balances of other area school districts and their 20 most similar districts. The Ohio Department of Education and Auditor of State recommend districts maintain an average carryover balance of 25 percent of total expenditures. A carryover balance according to the state auditor is considered to be a good indicator of strong fiscal management and it allows district to maintain their operations.
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