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NSD Annual Audit

Nampa School District eliminates deficit; restores positive fund balance
Posted on 10/19/2014
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NSD back in the black

 

The Nampa School District is back in the “black.”

 

The annual audit provided in October 2014 to the Nampa Board of Trustees by its independent auditor Eide Bailly, shows that the district has eliminated its $5.3 million deficit and ended the 2013-14 school year with a positive fund balance. The audit report is available online.

 

 “It’s been a difficult two years as we worked to set things right with our finances,” said Bob Otten, Chairman of the Nampa Board of Trustees. “There’s more work to do, but we should celebrate the significant progress we’ve made thanks to the hard work and sacrifices of many and the strong support of our community.”

  

According to the audit, the district ended the 2013-14 school year with general fund balance of about $1.7 million.  Of the balance, $1.2 million was unspent savings.  The following one-time uses for the carry over funds including $500,000 to begin rebuilding the district’s financial reserves, which need to grow to between $5 million and $7 million during the next several years. The remainder of the general fund carry over is targeted for one-time expenses including $80,000 for substitutes, $270,000 for school operations costs, $275,000 for computer lab upgrades, $45,000 for security upgrades, and $50,000 for student activity transportation. 

 

The positive fund balance comes after two tumultuous years for the district that included budgeting errors that led the district to overspend resulting in a $5.3 million deficit. 

 

During that time, the Board of Trustees worked with two interim superintendents to implement a deficit elimination plan and to identify cuts to bring spending into line with reduced state revenues.

 

The district eliminated its deficit primarily by raising additional one-time revenue from the sale of unused property and the restructuring of a bond coupled with a one-time voter approved supplemental levy in March 2013.

 

The district also reduced its spending in 2013-14 to match state revenues. Reductions included cutting 14 days from the school calendar, eliminating some employee benefits, leaving about 50 vacant teaching positions unfilled, contracting for custodial services, closing an elementary school, reducing busing costs, and reducing funds for substitutes and operations.

 

 For the 2014-15 year, thanks to patron support of a two-year $3.39 million supplemental levy last March, the district restored the 14 days to the school calendar and hired 25 teachers. Other reductions remain in place.