Knox Community School Superintendent Dr. William Reichhart updated the school board members on the state of the 2018 budget last week.
He said he was satisfied with the numbers.
“We finished in the black with the tune $309,528 for the 2018 calendar year which means we ended with more money than we started the year in our General Fund,” said Dr. Reichhart. “In addition, our cash balance in the General Fund is the highest that it’s been in at least six years. It stands at just over $2 million. That’s been a great accomplishment. I know the board has worked hard to build that.”
He added that the Rainy Day Fund balance is good as the corporation did not have to use any funds from that line item last year. There is about $1.5 million left there.
Staff members were able to receive a 2.5 percent increase.
He pointed out that the school corporation is in good financial shape. They will be keeping an eye on enrollment, especially for the 2019-2020 school year to see how it could affect the budget for 2020.