A brief outline overview of WSD financial history, (those who will not learn from history are doomed to repeat it.)
- Presentation mainly about mil rates – NOT dollars
- Board declared need because of a 3.5% salary increase (actually that was done by state)
- This massive increase resulted in massive spending increases above student growth ever since
2008-9 budget shows $23M for high school - funding source unknown
- High School construction costs over bond by $10-20 million Board of Education / Updated Cost of Wasatch High School “This page is currently unavailable. Last Modified on December 10, 2012” (previously listed at ca $70 million with a promised update)
Utah code specifies no transfers betweenfunds without state school board permission
- 2011 $3 million football stadium built without any approval found in minutes - funding source unknown
USOE rules state the no 'unassigned' funds can be kept in funds other than “General” Other fund balances must be allocated.
- received 'expanded' budget copy after repeated requests
- Found excessive Gen Fund reserve balance ca. $5 million
- With that expanded info, more data found in SAO audit submissions
WTPA requested return of excess funds at 2nd budget heating (Aug)
- WSD Business Administrator produced extra budget page showing 'unassigned' and 'undistributed' anddeclared ONLY 'undistributed' was limited to 5%
- WSD Business Administrator said it was OK because at least 3 other districts had larger % balances
- Board members declared the 'Rainy Day' fund was needed for unseen expenses
- WSD response
- WTPA asked for time at next meeting to discuss the issue – refused!
SAO audit (2012) submission now shows 5% 'undistributed
School board policies should be altered to reflect a policy of fiscal responsibility, conservatism and respect for taxpayers, in addition to declared goal of educating students.