Colon Schools Get Positive Audit Report
Wednesday, November 29, 2023

(COLON) – Colon Community Schools received a positive audit report for the 2022-2023 school year.

Monday night, the Colon Board of Education was presented with the audit report, and specifically the General Fund. The School District received an unmodified opinion, which is the highest opinion that can be given.

Matt Kelly of Plante Moran shared with the Board where the revenue comes from and the total revenue for that school year. LINKC.

Expenditures for the year were $7.5 million.

Kristen Connor of Plante Moran shared about the Fund Balance for the District. Currently Colon Schools has a fund balance of $2.6 million or 35%. That is money the District has to fully maintain its operations in the event of a problem. That amount would keep the District going for 63 days.

Connor says the state average for Fund Balance for schools the size of Colon is at 20%, which puts Colon ahead of the curve.