SIKESTON -- Tough economic times loom over Missouri school districts, but Sikeston R-6 continues to hold its own -- at least that's what the district's audit shows.
Richard Dennis of Spitzmiller, Hobbs, Bridger and Co. in Sikeston, presented Board of Education members with the 2004-2005 auditor's report during Tuesday's regular meeting.
"The district is financially stable and it has experienced some growth during the fiscal year, although at the state level we continue to hear reports that things will worsen," Dennis said.
In total, net assets increased $6.59 million, which is a 72 percent increase compared to the 2003-2004 year.
However, $4.68 million of these net assets are due to bond proceeds of the $4.66 million received by the district in May for the planned math and science building addition to the Senior High campus. It's also due to a carryover of 2003-2004 professional development funds totaling $19,322. The increase in 2004-2005 net assets that were unrestricted were $1.9 million, or a 2.1 percent increase.
Cash net assets were $15.7 million and broken down into restricted for debt service of $23,000, capital improvements of $4.6 million and unrestricted of $11 million.
"The restricted for capital improvements, of course, is the bond and the premium on the bond less the issuance cost. So that's what's available to spend on the math and science center," Dennis explained.
The district expended $26.56 million that was offset partially by charges for services, operating grants and capital grants, leaving a deficit of $16.78 million, and that was more than made up by $23.38 million in general revenues, the bond and the premium on the bond, Dennis said. That left a change in assets of $6.59 million.
"We adjusted assets at the beginning of the year to come down to $9.1 million cash and had an ending balance of $15.7 million, which is the same as cash net assets," Dennis said.
The district operated debt-free during 2004-2005 until a bond issue was passed in April, and the actual levy for debt service was zero.
Expenditures of federal money were a little more than $4 million with a majority of that being Title I funding and school lunch program, both over $1 million. Dennis said the district is also compliant with federal and state regulations.
In other business Tuesday, Board of Education filing dates were approved by the board for the April 2006 election as Julie Crader Dolan's and Ann Jones' three-year terms will expire. Filing begins at 8 a.m. Dec. 13 and ends at 5 p.m. Jan. 17 at the office of board secretary Rice P. Burns, 733 N. Main St.
Terry Bryant, director of building and grounds, briefed the board with a facilities report. Over the past year, department projects included the implementation of a team-cleaning program, renovation of Southwest Elementary to provide reduced energy costs, assistance to district's plans for new building construction and renovation of the Middle School library computer lab.
Projects this school year include painting and replacing tiles at A and B Buildings at the Senior High and replacing the roofs of the Junior High and Fieldhouse.
Summer projects will include renovating the track facilities as well as preparing the Senior High campus in anticipation of moving into the new building, Bryant said.
In giving the annual update of the Sikeston Career and Technology Center, director Laura Hendley noted 100 percent of SCTC students in 2004 (data for 2005 is not yet available) who were graduates continued their education -- either related or not related to their training, are in military or are working in a job of some kind -- either related to training or not.
Dr. Larry Bohannon, assistant superintendent of secondary schools and professional development, and Cindy Griffin, assistant superintendent of elementary schools and special services, presented the board with an update on the district's state and federal grants.
Griffin noted the district receives $1.7 million in Title I funding for children in prekindergarten through fifth grade and $10,000 in Title III funds, which are used to support instruction for Limited English Proficient students.
Bohannon, Griffin and Dr. Marisa Bowen, assistant superintendent of middle grades and curriculum, noted attendance at parent-teacher conferences last month was fair. Prekindergarten through fourth grade had 94 percent parental attendance. The fifth grade saw 90 percent attendance while the middle school had 92 percent. Junior High had 86 percent, and 84 percent of Senior High parents attended the conferences.