The Glen Rose Independent School District board of trustees received the district’s financial audit for the 2008-09 fiscal year Thursday.
The audit was presented by Gary Snow with Snow, Garrett and Company.
Snow focused on the district’s fund balance, stating it had increased by nearly $7,000,000 in just a few years time.
“We like to see three months worth of operating budget in the fund balance,” Snow said. “The district’s total expenditures is $2,000,000 to operate for one month. You have an excellent fund balance. The concern of all districts is just watching that fund balance. Continue to strive and work on that.”
Snow also said that for the payments to the state and the payroll amounts Glen Rose ISD submits, the district is in excellent standings.
“Your Chapter 41 (payment) represents (more than) 40 percent and 51 percent is payroll,” Snow said. “More than 90 percent (of the budget) is in those two items.”
Superintendent Wayne Rotan said over the last decade the district has paid more than half a billion dollars in recapture through the state-mandated Robin Hood program, which takes from property rich school districts and gives to poorer districts.