July 29, 2010

Garrison district has $1 million in bank

Garrison district has $1 million in bank

By JILL DENNING GACKLE

The pot at the end of the rainbow was overflowing.
Garrison school district finished its fiscal year June 30 with the largest ending balance in the district’s history – $1,026,211 in the bank or almost 54 percent more than last year.
Last year the district ended the year with $668,516 in the bank. The next highest ending balance was in 2008 of $721,000.
The district’s budget is $3.8 million. The carryover amounts to 73 percent of the budget.
Superintendent Steve Brannan had little to report to the board about the financial statement and the board members asked no questions. Only board member Jerry Sayler said, “It looks good.”
Carryover – or the term used for the ending balance – has been a topic of school boards for years, primarily when the ending balance was below 10 percent of the budget and the board learned about how the carryover was needed to get the district through the revenue lean months of winter.
 


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