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Kids Crew faces bleak financial future

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Audit shows school system ended fiscal year with $2.2 million increase in general fund

By Linda Ireland

The LaRue County School System ended fiscal year 2009 with $9.8 million, according to an audit prepared by Stiles, Carter & Associates, P.S.C.

The cash balance reflected $2.2 million increase in the general fund, Brian Woosley, accountant for the firm, told school board members Sept. 21. The primary reason for the increase was cost control measures and not spending contingency funds.

The district improved its financial position through an increase of $1.8 million in net assets – land, improvements, buildings, vehicles and construction in process.


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