Annual Financial Report

Annual Financial Report

October 2009- Lou Wiegand, the Director of Business, spoke on the Annual Financial Report at the Governing Board Meeting on October 7, 2009. Below is a summary of the information presented:

The 2008-2009 Annual Financial Report (AFR) is
a compre­hensive financial reporting due to the Arizona Department of Education (ADE) by October 10. The AFR includes budget and actual summary infor­mation for revenues, expenditures and fund balances for all district funds.

 

The AFR demonstrates that the Glendale Union High School District has successfully complied with adopted budgets, grant allocations and spending limits. We also believe it demonstrates that the district is successfully administering its stewardship over the public funds we have been entrusted with.

 

It is important to remember that the period covered is from July 1, 2008 to June 30, 2009. Therefore it includes the State’s mid year budget reduction of approximately $2 million dollars. It does not reflect the more substantial budget cuts that have gone into effect and are anticipated for the 2009-2010 year.

 

The AFR demonstrates the District’s success under the leadership of Dr. Johnson and the Governing Board in implementing a hiring freeze, proactively reducing travel, closely monitoring capital expenditures and aggressively using grant and other funding sources when appropriate. The budget compliance represents the many sacrifices made by all district staff to save utilities, covering for vacant positions, reducing travel and carefully expending their limited resources.