The St. Joseph Board of Education recently reviewed a financial audit on November 24, led by Linda Quinley of the Missouri School Board Association. The audit highlighted a steady decline in state revenue, which mirrors the district’s recent drop in student enrollment. While the review found no funds were mishandled, it showed that the district’s…
The St. Joseph Board of Education recently reviewed a financial audit on November 24, led by Linda Quinley of the Missouri School Board Association. The audit highlighted a steady decline in state revenue, which mirrors the district’s recent drop in student enrollment. While the review found no funds were mishandled, it showed that the district’s financial forecasting, particularly for employee counts and salaries, had been underestimated. To improve accuracy, the district is considering recommendations, including adopting three or four budget amendments annually to work with more current figures for enrollment and tax rates. Assistant Superintendent Robert Hedgecorth also warned that if the district’s financial reserves continue their current trend of decline, they could hit a 3% state-intervention threshold in one or two years.