Tuesday, August 29, 2006
Enrollment numbers for the future school year, which affect the amount of state aid schools receive, won't be obvious until September, but what is clear for the Prairie Farm School District is that the last year's "alarming" self-insurance costs for health coverage were an unforeseen burden, said district superintendent Don Hauck.
An audit the district just finished revealed $200,000 more in claims this past year than the preceding year, and Hauck said he believes it is the utmost claim rate in the school's history.
"That took up $91,000 out of our fund balance deficit, and at the same time it cost us to cash flow borrow-it cost us more in interest-$20,000 more than anticipated," he said. The district had also committed $40,000 to a new program last year. With the inclusion of a few other financial obligations, the district's fund balance ended up $173,000 poorer at the end of the budget year.
The district's final audit report would become available in November, Hauck said.
posted by kanth
@ 2:02 AM
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