North Winneshiek School Board approves 2014 audit

The North Winneshiek School Board has approved the school district's FY14 financial audit.    The district's ending general fund balance was $122,117.  The district's solvency ratio for FY14 was 3.0 percent, which is categorized as an "acceptable" amount by the Iowa Association of School Boards.  The general fund spending authority balance currently is $271,239.  The district's spending authority ratio was 8 percent, which is also considered in the "acceptable" category by the Iowa Association of School Boards.
 
In other financial matters, the school board has approved an early retirement incentive for the non-teaching staff members.  The eligible employees will have until Tuesday, December 2nd, to make their decision on whether or not to accept the incentive.  The plan will distribute 50 percent of their current year's contract over the next three years as incentive for early retirement.