|Lakota board provided 5-year financial forecast|
|Written by Sentinel-Tribune Staff|
|Saturday, 19 October 2013 08:02|
KANSAS - Jennifer Hedrick, treasurer for Lakota Local School, updated the board on the required five-year financial forecast and noted, "We have been fortunate not having to go back to the ballot for more money."
She noted that everything is getting better and that "we are going further out with our forecast being in the black than we have previously."
Revenue will stay constant, at $11.34 million this year, and is predicted at $11.50 million in June 2018.
Expenses are expected to increase, however, and are at $11.19 million this year and projected at $12.25 in June 2018.
The district will dip into its cash balance to cover the difference.
That balance is expected to be $2.05 million this year, and $927,973 in five years.
Hedrick also gave a presentation on the new requirements for the Health Care Reform. She ex-plained how they feel they are in complete compliance and should not have too much to be concerned about. The one area may be in substitutes who frequently work in the district. If they exceed an average of 30 hours per week, the district will be required to offer them "affordable health insurance."
She added, the penalties for violation could be staggering.
As the government is still sorting things out, she said everything could change, but she believes the district should be in good shape as far as compliance goes.
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