District scores high marks on audit

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by Tim Troglen

Reporter

Maple Heights -- Money is a major part of education. And according to state Auditor Mary Taylor's office, the Maple Heights School District, which had two five-year levy renewals passed by residents in November, is doing well.

According to Emily Frazee, press secretary for Taylor's office, the school's audit, which was released Jan. 10, was classified "unqualified," which is the highest rating given by the state.

The audit covers the academic year 2006-07.

Frazee said the auditor found no evidence of inappropriate spending, but did note three areas where improvements could be made.

According to the audit the district established a service fund but did not show any activity, some funds had more money in them than was estimated and some expenditures exceeded appropriations.

However Krause said adjustments have been made to the funds and the problems will be resolved.

"They are very aware of the situation and are working to correct it," Frazee said.

According to the audit, prepared by Maple Heights Schools Treasurer Christopher Krause, the district finished the year with total assets of more than $33 million. He said total net assets increased $1.2 million during the audit period.

The district's outstanding debt decreased from $4.2 million in 2006 to $3.8 million in 2007, the audit stated. The audit also shows total revenue increased from $39.4 million in 2006 to $43.8 million in 2007.

"We look forward to doing things even better and we are proud of this year's audit," Krause said.

E-mail: TTroglen@recordpub.com

Phone: 330-688-0088 ext. 3165