Jackson Rancheria Casino Resort Entertainment

 

ACUSD Financial Update

The past, current and future financial situation of the Amador County Unified School District has been addressed in an open letter to Amador County Families & Community Partners by District Superintendent Dr. Amy Slavensky.  According to Slavensky, in the letter titled, “Setting the ACUSD Financial Record Straight”, 10 months ago in September 2018, the District learned from their Annual Unaudited Actuals Report, which is a required state report of all school districts when closing the financial books on the previous school year, that reserve funds were not sufficient.  Since that time, through a process of discovery, led by Jared Critchfield, the district’s chief business official, 8 major, previously unknown reasons were uncovered, why the District reserve funds dropped to a low level and why the projected ending fund balance had the appearance of looking healthy in the past.  They included; Revenue (income from the state) was inflated by significantly over-reporting students’ average daily attendance in the 2017-18 budget.   The District energy conservation project was not budgeted properly in 2016, leaving out $1.5 million of the $10 million project.  Expected energy savings were built into the 2017-18 budget before ground broke on the conservation project and well before any cost savings could or would be realized.  As of June 2018, the District has been realizing energy savings.  Deficit spending wasalso a problem in 5 of the past 8 years.  During the past fiscal year, the District did not spend more than it received in revenues and AT&T was overcharging for utilities costs.  The good news according to Slavensky, is that the first five issues have been thoroughly addressed, and steps have been taken to correct the remaining issues of ongoing maintenance costs to address the District’s aging facilities, the rising costs statewide for employee pension contributions and the rising costs for Special Education, an underfunded program nationwide. According to recent figures released, the 2019-20 budget is a positive budget and the District should meet reserve fund requirements by June 2020.  A copy of Slavensky’s letter with links to District reports and contact information may be viewed on the KVGC Facebook page.

 

Additional information