CLEARFIELD – The Clearfield Area School District finished the 2014-15 school year with a $1.8 million surplus, reported Business Administrator Sam Maney during Monday’s combined committee and board meeting.
The district originally projected a $3.3 million deficit. “The positive results can be primarily attributed to increases in local tax revenues and additional state revenues over projected amounts,” said Maney.
“This is coupled with considerable savings in major expense categories, such as personnel, transportation, tuition and general supplies.” He noted that monies, which were to be transferred to the capital projects fund, were kept in the general fund due to the uncertainty surrounding the state budget.
Maney said that the district’s general fund balance was $12.2 million as of June 30. He said it included $2.9 million in reserves restricted for debt service obligations, $2 million committed for Public School Employees’ Retirement System (PSERS) increases and $402,188 assigned for real estate tax appeals.
So far as the Food Services Department, he said it experienced a $32,146 deficit for 2014-15. He said the district originally projected an $187,166 deficit, and the reduction in the deficit was primarily due to an increase in the student lunch and breakfast revenues and a savings in personnel costs due to retirements and the district’s consolidation.
The uncommitted/unassigned fund balance for Food Services was $348,863 as of June 30, said Maney.
“It’s a good spot to be in,” said Maney, “but we have to be careful. We have to continue to watch our spending and keep our eye on the future. We don’t want to go back to where we were.”