Financial stability took center stage at the MSAD 52 Board of Directors meeting on May 17, 2025, as the district reported a significant surplus of $1.9 million for the fiscal year 2024. This surplus, attributed to both increased revenues and reduced expenditures, positions the district favorably for future financial planning.

During the meeting, financial auditor Heather provided a detailed overview of the district's financial audit report, highlighting that total revenues climbed to $42.6 million, a 10% increase from the previous year. This growth was primarily driven by program payments and operating grants. Notably, expenditures also rose, but at a slower rate of 6.4%, totaling $42.4 million. The increase in costs was largely linked to special education and salary adjustments.

The district's total assets were reported at $34.8 million, with cash reserves increasing to $9.9 million, representing 13% of total assets. The net position rose to $21.2 million, indicating a healthy financial outlook. Heather emphasized that the unrestricted portion of this net position, amounting to $2.39 million, provides a cushion for unexpected expenses.

The meeting also addressed the importance of maintaining a robust fund balance, which now stands at $7.7 million. This figure reflects a 4.7% increase and represents about 17% of annual expenditures, aligning with best practices for financial flexibility.

In response to questions from board members, Heather noted that the surplus is not uncommon among districts, especially as many are preparing for the expiration of federal funding. The district's ability to keep expenditures under budget, particularly in special education, was highlighted as a key factor in achieving this surplus.

As the meeting concluded, the board expressed optimism about the district's financial health and the strategic planning necessary to navigate future budgetary challenges. The surplus not only enhances the district's financial flexibility but also sets a positive tone for upcoming fiscal years.