The Neelyville R-IV School District received its annual audit for the previous school year during Monday evening's Board of Education meeting.
According to CPA Dwayne Clark, the fund balance is "very healthy" for a district the size of Neelyville and the annual expenditures the district incurs.
"As far as I'm concerned, it's a real good audit," Superintendent Brad Hagood said.
For the fiscal year ending June 30, 2018, revenues exceeded disbursements by $1,683,623.
After a transfer of $1 million from general fund to the special revenue and capital project funds to cover a deficit, the district still saw an increase of $113,953 in the general fund balance.
"The district ended the year with $1,669,456," Clark said.
A compliance audit was also required for Neelyville's Title I program, with no federal findings, Clark added.
The biggest change noticed, Clark said, was the district did not have near the capital project expenditures compared to last year.
"It was down about $100,000 over the previous year," he said.
Clark did have a couple of findings during his audit, but said they were "repeat findings."
The first was segregation of duties, where it is not feasible with the size of the district to have enough employees for adequate segregation of duties for internal control.
"This is a standard finding in all small school districts," Clark said.
It was also found the board should state the facts and reasons for making budget amendments.
"I felt like the records of the school district are in good order and I'm glad to see an increase in the fund balance," he said.
Another positive Clark found during the audit was Neelyville's average daily attendance increased by about 30 students compared to last year.
"Compared to a lot of schools in the area we see the trend is decreasing in student population," he said.
The board unanimously approved the audit draft presented and the final copy will be ready for the next board meeting.
A copy of the audit is to the Missouri Department of Elementary and Secondary Education by Dec. 31.
BANK TRANSFERS
The board approved rasing the amount allowed to be transferred at one time as well as utilizing Peoples Community Bank's new direct-deposit system, only requiring one signature.
According to Hagood, to complete a direct deposit, Treasurer Kim Toth puts the information on a thumb drive and a letter is signed by Hagood and Toth stating the amount to be deposited.
Now, Peoples Community Bank's new program will not require a thumb drive to be taken to the bank and only Toth's signature.
Paperwork that has been done in the past will still be completed and kept in the office as a backup, Hagood added.
At the recommendation of the bank, the board increased the amount allowed to be deposited at once from $450,000 to $500,000.
ELECTION FILING
Filing for the April 2, 2019 school board election will open at 8 a.m. Dec. 11 and close at 5 p.m. Jan. 15.
Board members Donna Eaker and Jack Stull will be up for reelection if choosing to refile.
Anyone interested in filing for the three-year term as school board member may file at the Central Office board room.
LIABILITY INSURANCE
The board approved to renew the district's liability insurance with an overall cost increase of $2,775.
"As much as it's covering, it's pretty reasonable," Board President Paul Petty said.
Hagood reported the increase comes from including the cost of a cyber liability policy in the main cost, rather than a separate purchase.
The district did purchase the cyber liability policy last year for a separate price.
The $10 million umbrella insurance the district also purchases each year also saw an increase of almost $1,400 from last year.
EXECUTIVE SESSION
The board accepted a request from a student for an early graduation in December pending all requirements are met.
The board also approved other staff donating their sick days to a teacher on maternity leave who due to extenuating circumstances will need to be off work longer than expected.
NEXT MEETING
The next Neelyville Board of Education meeting will be at 7 p.m. Thursday, Dec. 20 at the Central Office board room.