KERENS–The Kerens ISD school board heard an audit of the 2018-19 fiscal year during their Monday, Nov. 18 meeting, which shows an increase in cash reserves in the midst of the school’s campus construction project.
Frank Steele, an accountant with Anderson, Marx & Bohl of Corsicana, said KISD cash reserves grew $485,000 in 2018-19, from $1.6 million to $2.1 million.
“All in all, it’s a good audit report and a good financial stability base that you have,” Steele said.
Steele said the state requires two months of operational spending in cash reserves, which for Kerens translates to $1.05 million. That means Kerens ISD doubled the requirement in both time and money, he said, as of the 2018-19 fiscal year.
The accountant also said the audit “speaks incredibly” about the district’s financial management by saving nearly a half-million dollars in cash while undergoing a major campus construction overhaul.
In addition, the audit showed the district’s operations budget set aside $6 million and spent $5.7 million. The capital projects fund, which is paying for campus construction, went from $16 million to $8 million, which school officials have said is within budgeted parameters.
“We could not do it without Mr. Jim (business manager Jim Kendall) and Mr. Brumit (Superintendent Martin Brumit),” said Teresa Jennings, school board president.
Kerens ISD trustees also approved the District Improvement Plan. The plan has five goals:
Kerens ISD students are provided a quality educational experience through the use of 21st century curriculum, instruction, technology and assessment strategies;
The district will ensure that all students meet high expectations, and are college and/or career-ready when they graduate;
Parents, community and the district will work collaboratively to develop a school that meets the needs of all students;
Kerens ISD will be a safe and orderly environment; and
Kerens ISD will work to keep the financial integrity of the district a top priority.