Audit of Joplin School District traces issues to tornado
JOPLIN, Mo.–An audit on the Joplin School District has traced its declining financial condition to the 2011 tornado that devastated the Joplin area.
The Joplin Globe reports that the audit revealed post-tornado efforts to build five new schools has led to a funding gap. The 32-page report says hat the district has spent about $250 million in disaster recovery as of Dec. 31, 2014, which has caused its general fund balance to drop from $13.29 million in 2012 to a projected $4.6 million at the end of the current fiscal year.
At a news conference Monday, Superintendent C.J. Huff said the district had anticipated that its reserve fund would dip to lower-than-average levels because of spending related to tornado recovery and school construction.
The Board of Education has set a goal to slowly rebuild the fund from its current level of 10.6 percent to 25 percent, which would equal about three months of operating expenses.