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The Ozark School District's net position was $28.6 million as of June 30, 2020.
Photo provided by Ozark School District
The Ozark School District's net position was $28.6 million as of June 30, 2020.

Audit: Ozark schools 'healthy financially'

Posted online

The Ozark School District announced a clean audit report from KPM CPAs PC.

In an independent audit, Springfield-based KPM examined the school's financials, particularly emphasizing changes made and adverse effects that impacted the district amid the COVID-19 pandemic. The findings of the audit covering the fiscal year that ended June 30, 2020, were presented to the board of education Dec. 17, according to a Jan. 8 news release.

"With a solid and stable fund balance over 28%, the district was able to increase salaries slightly and offer a step to all Ozark employees. With the economic outlook, the district is expecting the fund balance to decrease slightly," the audit reads. "However, because the district is healthy financially, Ozark will be able to make it through these potential financial rough times."

As of June 30, the district's net position was $28.6 million, an increase from $28.3 million a year earlier. Receipts during the year were roughly flat at $63.5 million, and disbursements rose to $63.3 million from $62.1 million a year earlier, according to the report.

The Ozark School District’s goals amid the pandemic shutdown included continuing to pay staff at their full rate and 100% of their health care, as well as operating a free day care service for local front-line workers, according to the release.

“We met all of these goals," district Chief Financial Officer Tammy Short said in the release. "Ozark has an amazing team that comes together on a daily basis to ensure that processes and procedures are adhered to in order to have a clean audit every year."

The district has received clean independent audit reports for more than a decade, according to the release.

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