The Oberlin Schools have received a clean audit report from the Ohio auditor’s office for the 2014-15 school year.
“The district has carefully planned its financial future by forecasting its revenues and expenditures over the next five years,” said the audit, certified March 22. “We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses.”
District treasurer Angela Dotson said the audit began in October and concluded in February. The district has received clean audits since she was hired in 2013.
Dotson said her three-person office tries to be frugal and transparent.
“We have a lot of cooperation from the staff to follow (proper) processes,” Dotson said. “Everyone’s always trying to make sure if we’re buying something we need it.
The school district finished last year with an approximately $1.87 million surplus compared to about $1.2 million in 2014. Dotson said the increase was due to increased property tax collection.
The district, which has a $14.3 million general fund budget for the 2015-16 school year, projects a $2.3 million surplus in 2020, according to its five-year financial forecast. Dotson said the Oberlin Schools received about $3.5 million in state taxpayer money in the last school year.
Because the Ohio Department of Education classifies the district as wealthy in terms of property values, the audit noted it receives little state taxpayer money. It said the district has a “mediocre financial position.”
The audit said nearly 62 percent of revenue is from property and school income taxes. “Although the district relies heavily upon local property taxes to support its operations, the district does actively solicit and receive additional grant and entitlement funds to help offset some operating costs,” it said.
Evan Goodenow can be reached at 440-775-1611 or GoodenowNews on Twitter.