The District's Financial Position

By Mark D. Hudak

In four years, the District has moved from near-insolvency to a balanced budget and adequate reserves. Given the State's financial situation, careful budgeting is needed to protect the District

Four years later, the District is in a sound financial position. The budget is balanced and we have built up adequate reserves. We completed our school modernization program, on time and on budget. Last year, we refinanced the facilities bonds for the modernization program in a way that allowed the District to purchase an office building for its administrative operations and still reduce the burden on taxpayers.

With careful financial management, we have been able to increase salaries for our employees and we continue to pay for full health insurance for each employee. We continue to upgrade our school facilities as funding permits. Even though our District is among the lowest-funded in the County, we have spent our money wisely and the District is now in good financial shape.