Yough School District's 2012 audit report glows
By William S. Zirkle
Published: Wednesday, Feb. 13, 2013, 9:01 p.m.
The latest audit report for the Yough School District is glowing with positive remarks.
Presented to the school board Feb. 6, the report for the fiscal year ending June 30, 2012, indicated that the district is in a good financial condition.
Joel Kunkle, managing partner for Herbein and Company Inc., summarized some key figures and compared them to the previous fiscal year.
Cash in the general fund at the end of fiscal 2012 was $7,531,000 compared to $6,908,000 at the end of 2011. The construction fund was at $156,000 after ending 2011 at $516,000. Accounts receivable from government sources fell from $1,610,000 in 2011 to $732,000 in 2012, which was because of the expiration of the American Recovery Act funding, Kunkle said.
“For your district, you're very good fiscal condition as of June 30, 2012, (compared) with other districts in your area,” he said.
The district consistently had a working capital of about $6,000,000 and the fund balance at the end of 2012 was $5,971,000—about 21 percent of revenue, which is a healthy fund balance, he said.
“Another thing that was good to see, you had a budgeted loss of about $1 million for this past fiscal year and the actual loss was $183,000.”
Kunkle explained that the reason was revenue being greater than budgeted revenue by $319,000 and expenses were less than budgeted by $540,000.
“So you did a good job of managing that throughout the course of the year,” he said.
In his conclusion he stated, “The financial statement says you as a board have done a real good job of managing this district in a fiscally responsible manner.
“Going through the audit, that told me that Mike (Wrobleski) and the business department are doing a good job of managing, operating the day to day operations, and providing you with what I believe to be accurate financial information.”
“That's not always the case, so that's something everybody should be happy about,” he said.
William S. Zirkle is an editor for Trib Total Media. He can be reached at email@example.com or 724-872-6800.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Penguins stave off Ducks’ shooting barrage to win in shootout
- Pirates seek to tap Alvarez’s remaining upside
- Penguins notebook: Maatta leaves lasting impression with Selanne
- Oil slicks found in hunt for missing Malaysia jet
- Steelers restructure Brown’s contract to become salary cap compliant
- Gorman: Pitt should be happy with Dixon
- Trade to Penguins caps frenetic period for winger Stempniak
- Greensburg woman accused of assaulting nurse in Excela Health Westmoreland Hospital
- Former Pitt coach Majors in stable condition after heart procedure
- Man dies in overnight Butler house fire
- Web of surveillance videos helps ensnare suspect in East Liberty slayings