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Auditor: Colona schools leaning heavily on reserves
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COLONA -- Auditor Russ Rumbold of Gorenz and Associates, Peoria, described the school district's finances as a three-legged stool supported by fund reserves, annual revenue and the tax rate. Colona's education tax rate is maxed out, he noted, limiting property taxes, and general state aid has been declining.Colona has been using fund reserves to cover deficits, with fiscal year 2012 ending $65,000 in the red on a $3.7 million budget. "You broke even basically in fiscal year '12; that's good," he said. "The bad part is that it's a state-aid district. "You can weather a storm," Mr. Rumbold said. "It's just a matter of how big is the storm, and at some point, it has to return, and you have to replenish the reserves." Mr. Rumbold said education fund reserves before early June property taxes arrived were $1,359,000, which represents six and a half months of fund balances. The district also has a balance in its working cash fund. In other business, superintendent Kyle Ganson again discussed the proposed one-cent sales tax referendum for Henry County schools, stressing the $183,000 raised for Colona could only be spent on maintaining the facility and not for salaries. "If you want facilities and you want services, the bottom line is someone has to pay, and I can't think of a better way than this," he said. Up to two-thirds of the sales tax is expected to be generated by people who don't live in Henry County through purchases at gas stations, restaurants and shops, he said. The board will vote next month on whether to back the sales tax referendum on the April 2013 ballot. It also was noted the district's bonds will be paid off in 2017, but the sales tax could allow them to be paid off sooner and lower residents' property taxes, he said. Mr. Ganson also said, in future years, the district may have to go to voters to raise its education levy. "To me, this is a critical, critical issue for this and any of the other districts," he said. Colona spent $254,000 less in fiscal year 2012 than the previous year, he said, mostly because of less American Recovery and Reinvestment Act funding. The board also: -- Heard school board candidate packets will be available in the superintendent's office and are due back between Dec. 17 and 24. The seats of five school board members -- Jim Legare, Ray Kutzman, Josh Kyser, Jennifer Webster and Cindy Seaman -- will be on the next ballot. -- Hard contract negotiations for both certified and support staff, health care reform and other reform legislation will be future issues for the board. -- Learned a recent PTA sale of 1,300 pies raised more than $4,500. -- Learned no parents of free- and reduced-price lunch students wanted supplemental educational computer services for their students. The offering was mandated because the district fell below adequate yearly progress for the third consecutive year. 
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Rock island, IL Details |
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Today is Thursday, May 23, the 143rd day of 2013. There are 222 days left in the year.
1863 — 150 years ago: Messrs. J. and M. Rosenfield have moved their leather and hidestore to the building formerly occupied by Temple Bufords's store. They buy and sellhides, pelts, furs, wool, beeswax, lard, tallow, etc.
1888 -- 125 years ago: The Rock Island Lumber Company has recovered 5,000 of the8,000 logs that were carried away by the Mississippi River flood last week.
1913 -- 100 years ago: John J. Ullemeyer has been awarded the contract to furnish RockIsland fire and police department members with uniforms, at the city's expense.
1938 -- 75 years ago: Work on Aledo's new $38,000 swimming pool was started thismorning at South Park when ground for the pool was broken by Mayor John W. Murphy.
1963 -- 50 years ago: Students and teacher at Moline High School called today "MissLeona Day" day at the school in honor of the government teacher who retires at theend of the school term. Although she's been teaching for 43 years at the school, Miss Dayfound a new way of arriving at the school this morning. At 7:30 a.m., a police squad carpulled up in front of Miss Day's home and escorted her to school. A caravan of students' cars joined the procession along the way.
1988 -- 25 years ago: Barbecue cooking and riverfront antics are planned for Discover the
River Day Saturday in Leach Park, Bettendorf. A 5K run, wind surfing, a canoe race, hogcalling and more will round out the day under the Interstate 74 bridge.
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