TR cash position falls short, but sees gains

Under new administrative leadership, the Twin Rivers R-X school district is taking steps toward a more secure financial position.

Tonya Jones, board secretary, said at the Thursday afternoon meeting the district’s auditor advised the district should have enough in the bank to cover at least three months without revenue coming in.

While the district isn’t there, she continued, it’s close with just over two months worth.

“I asked him what a good point for us to be at is,” she said. “He said a district should be at three months worth of expenses in our fund balance. Right now, if you take the expenses for this year, we’re sitting at $476,000 average a month ... We’re about $342,000 short of making three months.”

When looking at expenses compared to revenue, the district is at $184,026 to the positive compared to this time last year, when it was $630,483 to the negative, officials reported.

The district has spent about $500,000 less so far this year compared to last year. Revenues are down about $43,000 compared to this time last year.

The difference is largely due to efforts to renegotiate various bills, including trash and phone services.

Jones said a change to the trash service bill alone will save the district about $800 a month.

It also is receiving more in free and reduced lunch money through the employment of Chartwells.

When considering the contract, Dr. Ben Johnson, superintendent, said Chartwells employees discussed the district qualifying for 84% free and reduced lunch, which it has. Previously, it was at 67%.

Johnson said before employing Chartwells, the food service program was in the red for the past two years, but he expected this move to bring it to the black.

Through a grant, student meals at the district will be free for all students for the rest of the school year.

This includes the dinner program, which started this week. All students are being sent home with a meal. Those who participate in after-school programs also are receiving meals.

The district started a committee to review its finances and make proposals for better spending after receiving the 2018-19 audit, which had a $856,000 deficit in spending.

Board members suggested looking into refinancing the district’s debt to see if it can get a lower interest rate.

Jones said she expects the district to receive the 2019-20 audit next month.

She also is working on a revised budget. The school board approved a budget in June, with the expectation of revising it since Johnson hadn’t started with the district at that time.