The Easton Area School Board heard three presentations during Tuesday night’s meeting that focused on financial matters, and one of them offered some unique news.
The Career Institute of Technology is returning $127,500 in unspent revenue to the school district, according to Ron Roth, CIT director.
“The fact that we are getting money back this year, I think that’s excellent,” said Board Member Pat Vulcano Jr.
When asked if the district was fully and effectively utilizing the school’s services, Roth responded this way.
“There’s room in the inn,” Roth said. “We could handle more students without raising the cost the school thereby lowering the cost per pupil, so we are not at capacity.”
Roth said that currently the trade school has about 650 students with the capacity to adequately enroll to about 800 students in certain courses and programs.
He added that the overwhelming majority of children who finish their program are either in college or employed. About 50 percent of graduates wind up attending college, a trade school or the military.
“A very small amount of students are unsuccessful,” Roth said.
The board also heard an independent auditor’s report for the fiscal year that ended June 30, 2012 from Palmer and Company, based in Easton.
The 2011-2012 General Fund Budget for the district totaled more than $133 million and the overall financial position continued to be strong with total net assets of more than $78 million and an unassigned General Fund balance of just over $3.8 million, according to Kyra Berkhove of Palmer and Company. The district’s total net assets were just shy of $80 million, and are invested in capital assets such as land, buildings and equipment.
However, Berkhove also noted that for the fiscal year expenses in the district exceeded revenues by $1.3 million.
“The district has been losing money,” she said.
In other business, the board awarded contracts to three companies to perform upgrades at two district buildings – Easton Area High School and Paxinosa Elementary School. The third award was for tennis court repairs.