North Judson-San Pierre Superintendent Dr. Annette Zupin shared some financial information with the school board when members met in January.
Dr. Zupin highlighted an Indiana Code that requires the school’s finance board to receive a report on the financial condition of the corporation.
The details in the report came from the Distressed Unit Appeal Board and Zupin explained that the entity exits as a way for school corporations to monitor various factors in order to track trends and stay in good shape financially.
She told members, “Indicators that they want us to address are enrollment, they want us to look at our revenue and our expenses, and they want us to look at the different funds and the balance. They have looked at that and they have indicated that we are in good financial condition so we don’t have any red flags or anything.”
When it comes to enrollment NJ-SP, like many rural schools, saw a decline over the last decade. While there was no growth, Zupin was encouraged by a stagnation that appeared in recent years.
Dr. Zupin touched on challenges that the school corporation faced in the past stating that in the years leading up to 2015, expenses were exceeding revenue and there was a declining cash balance.
While they still face similar challenges with enrollment and insufficient state funding, steps were taken to change the way the school operates.
Starting in 2016, the staff was reduced and the corporation reorganized, combining the Middle and High schools together. They continue to monitor enrollment and match staffing to the number of students to help maintain a healthy cash balance.
As a result of those steps and other efforts, the revenue is currently exceeding expenses and there is a positive cash balance.
Zupin stressed that there has to be a balance with the cash balance. She stated that there is enough to be comfortable since they never want to be in the same position as they were in 2015. However, she also explained that they are not stockpiling funds since retaining teachers and providing valuable programs and opportunities for students is vital.
Overall, Dr. Zupin felt that the School Corporation was on the right track.
She noted, “My summary is that North Judson-San Pierre is holding their own and I think we are progressing pretty positively.”
Click the follow link to view more details from the NJ-SP financial indicator presentation.