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School Board Accepts Opinion of Huber Michaels
The Allegany County Board of Education received its FY12 financial audit after earning an unqualified opinion, the highest opinion possible, from independent auditor Huber Michaels. Upon conclusion of the company’s audit of the school system, it was stated that the financial statements present fairly in all material aspects the financial position of the Board of Education. The school board voted unanimously to accept the audit.
The FY12 operating budget, which totaled $109,616,132, was a challenging one, but the school board worked within the confines of a smaller budget for the third consecutive year to minimize cuts that impacted the classroom.
To balance the budget in response to decreased state and local revenues, the school system continues to identify cost-reduction strategies to increase operational efficiencies and position for anticipated further budget cuts due to decreased state funding. This was verified in the financial statements with the school system coming in under budget by more than $3 million in expenses. The school system eliminated budgeted positions and came in under budget in energy consumption with a mild winter and strong energy management program. Moreover, every budget category approved by the elected Board of Education and Allegany County Commissioners came in under budget.
The finance department places the financial audit, as well as the operating budget, special presentations, and other financial information on the internet for public viewing. Click here to access that page.
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