Crosslake Community School received its annual audit from Justin, Clasen and Company, Ltd. during the school board meeting Monday, Dec. 10, at CCS.
Susan Schiessl, partner at Justin, Clasen and Company Ltd, discussed the main points and answered questions.
Schiessl highlighted the school's overall revenues at $2,906,754 while expenses sit at $3,424,451. The school's net position decreased by $518,393, or 82.9 percent, from June 30, 2017.
Schiessl clarified that part of this deficit is taken up by the net pension liability, which the school has no control over. This is the school's current burden according to the pension plan for its staff, but those dollars are not currently owed to anyone. They simply must be accounted for in a budget scenario.
Governmental funds for CCS increased by $58,749 from the previous year. Total revenue increased by $204,049 and total expenditures increased by $174,105.
The school board unanimously approved the audit.
In other business, the school board:
• Approved policy 603 regarding curriculum development. The purpose of the policy provides direction for continuous review and improvement of the school curriculum.
• Accepted Corrie Craig's resignation from the school board. Craig accepted the position to fill the vacancy left by Karen Larson after she resigned due to a conflict of interest. Lori Scharenbroich said Craig was unaware of the time commitment for being on the board and was unable to fulfill the duties required.
• Took a first look at budget revisions based on increased enrollment since the previous budget was approved in April.
• Discussed the Audubon leadership retreat that several board members attended this past month.