BLAIRSBURG - Burton E. Tracy and Company, certified public accountants, have announced that the annual audit report of the Northeast Hamilton Community School District for the year ended June 30, 2012 is available. A copy of the report is available on the state Auditor's website. To view the copy, go to auditor.iowa.gov/reports/index.html and click on AOS or CPA Firm Reports, and search for Northeast Hamilton.
The 2012 financial highlights for the audit report include:
General Fund revenues increased from $3,245,767 in fiscal 2011 to $3,438,740 in fiscal 2012. General Fund expenditures decreased from $2,847,852 in fiscal 2011 to $2,813,516 in fiscal 2012. The District's General Fund balance increased from $475,512 in fiscal 2011 to $1,100,736 in fiscal 2012, a 131% increase.
The fiscal year 2012 increase in General Fund revenues was attributable in large part to the cash reserve levy for cash flow purposes. The decrease in expenditures of $34,336 was due primarily to a decrease in students and reduction in staff.
The District reduced staff and other expenditures to improve the financial situation.