HANCOCK - Members of the Hancock Public Schools Board of Education received some good news about the district's financial situation at its regular meeting Monday.
Bruce Rukkila of Rukkila Negro and Associates Certified Public Accountants, presented the most recent school audit.
Rukkila said the district's general fund deficit was down 38 percent.
Kurt Hauglie/Daily Mining Gazette
The Hancock Public Schools Board of Education got some good news Monday regarding the district’s most recent audit, including that the administration is doing a good job with cash in the bank, maintaining capital expenditures, reducing its deficit and paying off debts.
"I commend you for doing that," he said.
Revenues were about the same as the 2011-12 school year at $6.7 million, Rukkila said. Expenditures were down, also.
Revenues are linked to student populations, and Rukkila said the student count is at 830, down nine students from the 2011-12 school year.
For student services (lunches) state funding for the district was up about $5,000, Rukkila said, and federal funding was down about $20,000.
The district has $1.4 million cash in the bank, Rukkila said.
Superintendent Monica Healy said the district's deficit is down $282,000 from $743,000 to $461,000.
Rukkila said the district is doing well staying in its budget, having a good amount of cash in the bank, reducing its deficit, maintaining capital expenditures and paying off debts. Assets have increased by $368,000, also.
"It's an across the board improvement," he said.
In other business, board members:
approved extending for three years the contract of R&A Transportation for busing services. The vote was 5 to 1 with Chuck Paoli voting no. When the district contracted with R&A, Healy said the district's six buses were leased to purchase to R&A with the intention of owning them at the end this school year.
heard from Hancock Central High School cross country coach Matt Dennis who introduced seven of the 24 members of the team.
The girls' team finished first overall at the Upper Peninsula Finals in Chocolay Township in mid-October, and the boys finished runner-up. Dennis was also named Coach of the Year by the Upper Peninsula Cross Country Coaches Association.
heard from Healy of the recent donations from the Hancock Public Schools Foundation. The Foundation provided $760 to the high school for a camera and lens, and $7,032 for wireless Internet access in the elementary school.