The Newburg School Board of Education reviewed an audit of the district’s finances over a 10-year period, presented by Ken Schultz of Schultz, Durham & Rapp P.C., a business consulting firm at Thursday night’s regular meeting.


The Newburg School Board of Education reviewed an audit of the district’s finances over a 10-year period, presented by Ken Schultz of Schultz, Durham & Rapp P.C., a business consulting firm at Thursday night’s regular meeting.
For the 2008 fiscal year, the district ended the year with a $113,421 surplus. This was a decrease from the previous year when the district accumulated a $486,931 surplus.
Newburg Superintendent Mike Bumgarner explained that the decline in the surplus was due to the district beginning to spend money that had come in from a bond that was passed in 2007.
The district also showed promising signs with a reduction in its outstanding debts, he said.
“You are starting to pay down your debts, which is good,” Schultz told the board.
In 2007 the school had $1,629, 318 in long-term debt. For 2008 the debt amount had shrunk to $1,529,903.
The major problem that Schultz highlighted was that the district has only one bookkeeper to keeps financial records.
“It is hard for small districts to get out of this,” School Board President Ron Smith said.
Schultz said that a lot of the districts he has worked with also share the same problem.
The school board also discussed the payment of teachers from universities for training student teachers.
Four years ago, the money that universities would pay, usually no more than $150, would go directly to the teacher, said Bumgarner. That policy had been changed so money sent from universities would go to the district.
The Newburg Certified Teacher Association had requested that the board change the policy back to the original form, so money could go directly to the teachers.
“I don’t have a problem with that,” Claudia Sands, the board’s vice president said.
Board members, who were unsure of making the change initially, agreed to the change because teachers are taking on extra responsibilities by training future teachers.
“They are not only teaching kids, they are teaching a teacher too,” board member Jim Macormic noted.