BVA hears audit results
By Christine Haines
chaines@yourmvi.com
An audit of the 2019-20 school year shows the Belle Vernon Area School District is in roughly the same shape as other districts in the region, at least when it comes to decreased expenditures for last school year.
According to Steven Cypher of the Cypher and Cypher accounting firm, the district saw a $984,182 increase in its fund balance. There was an increase in all areas of revenue other than tax revenue. General revenues came in $158,507 over what was budgeted. Actual expenditures were $1.2 million under budget.
“Most school districts this year underspent their budgets because nobody was there,” Cypher said.
The state recommends that districts maintain a fund balance of at least 3% of their budget, with a cap of no more than 8% permitted by law, Cypher added. The Belle Vernon Area fund balance is currently about 5.2% of the budget.
“There are only nine people in the Belle Vernon Area School District who know the right amount of fund balance and that’s the board,” Cypher said.
To read the rest of the story, please see a copy of Wednesday’s Mon Valley Independent, call 724-314-0035 to subscribe or subscribe to our online edition at http://monvalleyindependent.com.
