Financially fit

Published 10:23 pm Monday, July 21, 2008

DEMOPOLIS — Demopolis City Schools got a dose of good news when CPA Jim Gardner informed the school board that its financial audit looked strong.

“I would say Demopolis City Schools are in very good financial shape,” Gardner told the board.

With 17 million in assets and only $3.7 million in liabilities, the school system is on solid financial footing.

Email newsletter signup

And even during the current lean times, Demopolis City Schools have a little something saved for a rainy day, with a $2.7 million reserve fund, Gardner said.

“These are outstanding statements,” board president Gary Holemon said.

And the numbers are good news during a time when the state is struggling to fund an education budget.

The Alabama Legislature had to have a special session just to pass a state budget after lawmakers were unable to pass the budget during the regular session.

“We are just thrilled,” Superintendent Dr. L. Wayne Vickers said. “We had a superior audit last year, and it’s just as great this year. Excellent and outstanding were the words Jim used to describe our audit.”

Keeping the school system on budget is a task that takes many hands working toward a singular goal, Vickers said.

“This is something we can all be proud of,” Vickers said. “I want to commend all of our staff for their hard work.”

Those contributions could be seen in the amended and adjusted numbers to the budget, Gardner said.

“I thought the budget numbers were fairly close to what actually happened, what monies were actually spent,” he said.

Holemon, who is a loan officer with a local bank said the school system is in strong shape.

“It was an outstanding audit,” Holemon said. “It was very tough, very thorough, and it proved our school system is in good financial shape.”

That dose of good news comes just in time, as some teachers are already reporting to schools to get their classrooms ready for the 2008-09 academic year.