Mayfield Schools Ends Fiscal Year With $22M Balance

Mayfield City Schools ended the fiscal year far into the black.

The district finished Fiscal Year 2013 with a $22 million balance, treasurer Scott C. Snyder said.

The district began making preparations for the next fiscal year at its June meeting, just days before the 2013 financial year ended. The board made nearly $26 million in temporary appropriations for a slew of programs, including some that the state and federal governments will reimburse the district for.

The temporary appropriations, including nearly $15.5 million to the general fund, range from pre-school disabilities to food services.

"They are simply advancing money from the general fund to cover state and federal programs because of expense reimbursements," Mayfield City Schools Treasurer Scott C. Snyder said. "It more or less a timing issue."

The board also approved more than $106 million in final appropriations from the 2013 fiscal year. That included about $62 million in the general fund.

Permanent appropriations for the 2014 fiscal year are to be submitted by October. Snyder said he would have a more thorough financial report on the previous year available at the next meeting later this month.

"We received a little bit more money than we had expected and we spent a little less money than anticipated," he said. "That is a win-win."