The Walled Lake Consolidated Schools Board of Education listened to an audit presentation from Plante Moran at their board meeting earlier this month.
As of June 30, 2011, the school district had a total revenue of $158.64 million. The state’s per-pupil foundation allowance made up the greatest portion of the revenue at 59 percent for a total of $93.47 million. The district was granted $8,635 per pupil from the state, according to the report. Property taxes were the next largest revenue source at just over $33 million, or 21 percent of the revenue.
The total revenue generated for the school district has been affected by decreasing property values and declining enrollment, in addition to state budget cuts.
The rest of the revenue was comprised of other state and local sources, the American Recovery and Reinvestment Act and EduJobs, and other federal funding.
The district had general fund expenditures totaling $154.2 million as of June 30, 2011. The largest expenditure was for salaries and employee benefits at about $134.9 million or 87.5 percent of total expenditures.
Purchased services was the next largest expenditure at around 8 percent ($12.29 million), while supplies cost the district $6.38 million. Other expenses included outgoing transfers and capital outlay.
The district’s projected fund balance was $5.15 million. For the 2010-2011 school year, the general fund balance was $12.81 million on June 30.
According to Judy Evola, director of community relations and marketing for the district, Plante Moran gave the district an unqualified opinion, which is the best opinion available.
“We received an unqualified opinion from the District auditors. They applaud the Walled Lake Schools’ Business Services Department’s for their consistent work toward being fiscally responsible,” she said. o