North Winneshiek superintendent: District finances are stable

North Winneshiek School Superintendent Tim Dugger told school board members Monday evening the North Winneshiek School District "currently has a stable financial position."

Dugger gave school board members an eight-point summary of the district's finances:

1. Enrollment
The district's revenue is tied directly to student enrollment, which is why enrollment trends are important. The district's certified enrollment will increase from the FY10 figure of 303.9 to a FY11 figure of 304.7--a net gain of .80 students. That means the district will see a $46,377 increase in regular program funding for the FY11 school year if the state fully funds the increase (which at this point is uncertain).

2. Supplemental Weighting
North Winneshiek will receive supplemental weighting in the amount of .12 students for FY11. The supplemental weighting provides additional general fund revenue for the district.

3. General Fund Balance
The FY08 general fund balance was $175,400. The FY09 general fund balance was $164,208--a decrease of $11,192. The district continues to impose a cash reserve levy of $225,000.

4. Solvency Ratio for the General Fund
The solvency ratio is the general fund balance divided by the general fund revenues. For FY09, the district had a 5.1�olvency ratio, which ranks it in the "Good" category.

5. Spending Authority/Unspent Balance Ratio
The spending authority gives an additional snapshot of the district's general fund health. The district's spending authority increased from FY08 $638,408 to FY09 $707,086 which is a $68,678 increase. For FY09, the district's unspent balance ratio was 21.0 percent, which is rated "Excellent."

6. Instructional Support
The district continues to have an instructional support levy that generates about $150,000 for general fund expenditures. The levy is collected through a combination of property taxes, state aid, and an income surtax on district residents.

7. Sharing Agreements
The North Winneshiek School District has one-way 9-12 sharing agreements with Decorah CSD and Mabel-Canton ISD in place. The agreements allow the district to control the rising costs of educating its students.

8. Secure an Advanced Vision for Education Fund (SAVE) school sales tax.
The state wide sales tax has allowed the district to allocate funds for district infrastructure, buses, computers/technology, and for payment on the district's bond debt. The district receives about $250,000 annually from the SILO tax which provides direct property tax relief. The SAVE tax will expire in the year 2029.

Concluded Dugger, "Our goal is to continue to manage our finances in an efficient manner in order to meet the needs of its students and families."